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 underreliance and the risk of overreliance.
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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