Select the necessary words from the list of possibilities to complete the following statements. 1. 2 Inherent in the use of sampling is representative of the population. When using 3. sample. 4. The term When the auditors estimate sampling risk using professional judgment rather than by using the laws of probability, they are said to be using sampling. an item from the population may be selected two or more times for inclusion in the 9. Statements risk which is the possibility of selecting a sample that is not refers to the process of dividing a population into relatively homogeneous subgroups. 5. In performing tests of controls, the auditors are primarily concerned with the risk of assessing 6. To use attributes sampling tables, the auditors must stipulate the desired risk of assessing control risk too low, the expected deviation rate in the population, and the desired 7. 8. The auditors select an audit sample from the A confidence level of too low is .10. 10. Variables sampling plans are typically used for sampling is usually used in situations in which the auditors expect a very low rate of occurrence of some critical deviation. representation of the population. in a control is equivalent to a statement that the risk of assessing control risk procedures. Answer
Select the necessary words from the list of possibilities to complete the following statements. 1. 2 Inherent in the use of sampling is representative of the population. When using 3. sample. 4. The term When the auditors estimate sampling risk using professional judgment rather than by using the laws of probability, they are said to be using sampling. an item from the population may be selected two or more times for inclusion in the 9. Statements risk which is the possibility of selecting a sample that is not refers to the process of dividing a population into relatively homogeneous subgroups. 5. In performing tests of controls, the auditors are primarily concerned with the risk of assessing 6. To use attributes sampling tables, the auditors must stipulate the desired risk of assessing control risk too low, the expected deviation rate in the population, and the desired 7. 8. The auditors select an audit sample from the A confidence level of too low is .10. 10. Variables sampling plans are typically used for sampling is usually used in situations in which the auditors expect a very low rate of occurrence of some critical deviation. representation of the population. in a control is equivalent to a statement that the risk of assessing control risk procedures. Answer
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Select the necessary words from the list of possibilities to complete the following statements.
1.
2.
7.
Inherent in the use of sampling is
representative of the population.
9.
When the auditors estimate sampling risk using professional judgment rather than by using the laws of
probability, they are said to be using.
sampling.
an item from the population may be selected two or more times for inclusion in the
When using
sample.
The term
3.
4.
5. In performing tests of controls, the auditors are primarily concerned with the risk of assessing
6.
To use attributes sampling tables, the auditors must stipulate the desired risk of assessing control risk too low,
the expected deviation rate in the population, and the desired
Statements
risk which is the possibility of selecting a sample that i not
refers to the process of dividing a population into relatively homogeneous subgroups.
sampling is usually used in situations in which the auditors expect a very low rate of occurrence of
some critical deviation.
8. The auditors select an audit sample from the
A confidence level of
too low is .10.
10. Variables sampling plans are typically used for
representation of the population.
in a control is equivalent to a statement that the risk of assessing control risk
procedures.
Answer
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