STATEMENT 1: Nonstatistical sampling approach is determined based on pure judgment of the auditor. STATEMENT 2: The maximum rate of deviation that would support the auditor's planned assessed level of control risk is the expected error rate. A. Only Statement 1 is incorrect B. Only Statement 1 is correct
STATEMENT 1: Nonstatistical sampling approach is determined based on pure judgment of the auditor. STATEMENT 2: The maximum rate of deviation that would support the auditor's planned assessed level of control risk is the expected error rate. A. Only Statement 1 is incorrect B. Only Statement 1 is correct
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![STATEMENT 1: Nonstatistical sampling approach is determined based on pure judgment of the
auditor.
STATEMENT 2: The maximum rate of deviation that would support the auditor's planned assessed
level of control risk is the expected error rate.
A. Only Statement 1 is incorrect
B. Only Statement 1 is correct
C. Both statements are incorrect
D. Both statements are correct](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb106e732-21d7-4a71-a882-853576405676%2Fe805bbf3-9f27-478e-bfb9-83187f99d9e2%2F0adcrd_processed.png&w=3840&q=75)
Transcribed Image Text:STATEMENT 1: Nonstatistical sampling approach is determined based on pure judgment of the
auditor.
STATEMENT 2: The maximum rate of deviation that would support the auditor's planned assessed
level of control risk is the expected error rate.
A. Only Statement 1 is incorrect
B. Only Statement 1 is correct
C. Both statements are incorrect
D. Both statements are correct
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