Multiple Choice
An audit team designed a sample that would provide a 10 percent risk of overreliance that not more than 7 percent of sales invoices lacked credit approval.From previous audits,the audit team expected that 3 percent of the sample invoices lacked proper approval.From the sample of 90 invoices,7 were found to lack credit approval.Using AICPA sample evaluation tables,the upper limit rate of deviation was
A) 3.3%.
B) 4.5%.
C) 7.8%.
D) 12.8%.
Correct Answer:

Verified
Correct Answer:
Verified
Q3: An auditor who increases the assessed level
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Q5: Which of the following would not be
Q6: J.Pitino is auditing the revenue cycle of
Q7: Which of the following factors is not
Q9: Which of the following major stages of
Q10: Which of the following is not true
Q11: The auditor's sample size increases proportionally with
Q12: Which of the following factors does not
Q13: The sample rate of deviation is determined