tement (M)? a. M is based on the sample results. b. the larger M is, the lower the confidence. c. the larger M is, the smaller the sample. d. the larger the expected misstat
tement (M)? a. M is based on the sample results. b. the larger M is, the lower the confidence. c. the larger M is, the smaller the sample. d. the larger the expected misstat
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter8: Specialized Audit Tools: Attributes Sampling, Monetary Unit Sampling, And Data Analytics Tools
Section: Chapter Questions
Problem 13RQSC
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Question
100%
Other factors equal when planning a monetary unit sample, which of the following is true regarding the maximum tolerable misstatement (M)?
| a. |
M is based on the sample results. |
|
| b. |
the larger M is, the lower the confidence. |
|
| c. |
the larger M is, the smaller the sample. |
|
| d. |
the larger the expected misstatement, the smaller M is.
|
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