Multiple Choice
For monetary-unit sampling,a sampling interval of 400 means that
A) every 400th item in the account will be selected in the sample.
B) the average size of items in the account is 400.
C) every 400th dollar in the account will be included in the sample.
D) the average misstatement in sample items is $400.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: The purpose of audit sampling is to
Q3: Describe two advantages and two disadvantages of
Q24: What is the primary objective of testing
Q25: Which of the following sample planning factors
Q27: Monetary-unit sampling should not be used if:<br>A)the
Q30: Confidence level is inversely related to sample
Q30: An auditor has taken a large sample
Q35: Which one of the following statements is
Q39: When auditing accounts payable using classical variables
Q43: In nonstatistical sampling, describe the two methods