Short Answer
For each of the following statements,indicate whether it is more closely related to attributes sampling or variables sampling by using the letter A (attributes)and V (variables).
___ 1.Used to allow the auditor to assess risk of material misstatement.
___ 2.Sampling risks include the risk of incorrect acceptance and risk of incorrect rejection.
___ 3.The population variability affects the sample size.
___ 4.The auditor's sample would include transactions or components comprising the account balance.
___ 5.Sampling risks include the risk of assessing control risk too high and the risk of assessing control risk too low.
___ 6.The auditor's sample would include potential applications of control policies and procedures.
___ 7.This type of sampling is influenced by the auditor's acceptable level of detection risk.
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