Multiple Choice
The auditor tested a sample of recorded sales invoices for evidence of credit approval.Based on the results of the sample,the auditor concluded that there was a satisfactory rate of approvals.Unknown to the auditor,credit approvals in the population were not satisfactory.This would be an example of:
A) Risk of overreliance.
B) Risk of underreliance.
C) Risk of incorrect acceptance.
D) Risk of incorrect rejection.
Correct Answer:
Verified
Correct Answer:
Verified
Q53: As a result of sampling procedures applied
Q54: To statistically evaluate an attributes sampling application,the
Q55: If an auditor calculated an upper limit
Q56: If the upper limit rate of deviation
Q57: Indicate how each of the following conditions
Q59: To ensure proper authorization of payroll
Q60: When the auditor concludes that a control
Q61: Which of the following is true with
Q62: Which of the following statements is generally
Q63: T&T Company’s purchase orders are already