Tolerable Rate is defined as the maximum rate of acceptability of misstatement. It’s the largest variance accepted in audit sampling in order to rely upon a specific control. Upper Deviation Rate is defined as sample deviation rate and an appropriate allowance for sampling risks. To describe: Planned Allowance for Sampling Risk

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Chapter 8, Problem 8.16MCQ

To determine

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Tolerable Rate is defined as the maximum rate of acceptability of misstatement. It’s the largest variance accepted in audit sampling in order to rely upon a specific control.

Upper Deviation Rate is defined as sample deviation rate and an appropriate allowance for sampling risks.

To describe: Planned Allowance for Sampling Risk

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