Concept explainers
Refer to Exhibit 8.6. Assume a 5% risk of overreliance,a tolerable deviation rate of 8%, a
a. 10.3%. The auditor is 95% confident that the real error rate in the population is no greater than 10.3%.
b. 10.3%. The auditor is 95% confident that the real error rate in the population is no greater than 5%.
c. 5%. The auditor is 92% confident that the real error rate in the population is no greater than 10.3%.
d. 5%. The auditor is 92% confident that the real error rate in the population is no greater than 5%.
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Bundle: Auditing: A Risk Based-Approach, Loose-leaf Version, 11th + MindTap Accounting, 1 term (6 months) Printed Access Card
- Auditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage Learning