AUDITING & ASSURANCE SERVICES CONNECT AC
10th Edition
ISBN: 9781259292057
Author: MESSIER
Publisher: MCG
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Question
Chapter 9, Problem 9.3RQ
To determine
Concept Introduction:
Sampling is the method of selecting few items to check from the entire population under examination. Auditors apply sampling method while performing their
Sampling can be statistical or non statistical.
To indicate: the relation of
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What is the relationship between sample size and (a) sampling risk, (b) tolerable rate of deviation,and (c) expected population deviation rate
Which of the following best describes the method of determining the ULRD?a. Expected population deviation rate + Allowance for sampling risk.b. Risk of underreliance + Allowance for sampling risk.c. Sample rate of deviation + Allowance for sampling risk.d. Tolerable rate of deviation + Allowance for sampling risk.
How does Sampling Risk compare to Non-Sampling Risk?
Chapter 9 Solutions
AUDITING & ASSURANCE SERVICES CONNECT AC
Ch. 9 - Prob. 9.1RQCh. 9 - Prob. 9.2RQCh. 9 - Prob. 9.3RQCh. 9 - Prob. 9.4RQCh. 9 - Prob. 9.5RQCh. 9 - Prob. 9.6RQCh. 9 - Prob. 9.7RQCh. 9 - Prob. 9.8RQCh. 9 - Prob. 9.9RQCh. 9 - Prob. 9.10RQ
Ch. 9 - Prob. 9.11MCQCh. 9 - Prob. 9.12MCQCh. 9 - Prob. 9.13MCQCh. 9 - Prob. 9.14MCQCh. 9 - Prob. 9.15MCQCh. 9 - Prob. 9.16MCQCh. 9 - Prob. 9.17MCQCh. 9 - Prob. 9.18MCQCh. 9 - Prob. 9.19MCQCh. 9 - Prob. 9.20MCQCh. 9 - Prob. 9.21PCh. 9 - Prob. 9.22PCh. 9 - Prob. 9.23PCh. 9 - Prob. 9.24PCh. 9 - Prob. 9.25PCh. 9 - Prob. 9.26P
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- Which of the following components of the audit risk model is most closely associated with attributes sampling?a. Audit risk.b. Control risk.c. Detection risk.d. Inherent risk.arrow_forwardThe risk that the decision made based on the sample will differ from the decision madebased on the entire population is referred to asa. Audit risk.b. Examination risk.c. Sampling risk.d. Nonsampling riskarrow_forwardWhat is the primary use of a p-value in statistics? a) To measure the central tendency b) To assess the strength of evidence against the null hypothesis c) To calculate the mean d) To measure the spread of dataarrow_forward
- Which of the following statistical techniques are used to test controls? Mean-per-unit sampling. Attribute sampling. Difference estimation. Ratio estimation.arrow_forwardWhat is the relationship between Evidence and Detection Risk?arrow_forwardWhich of the following components is not used in determining the upper limit on misstatements?a. Basic allowance for sampling risk.b. Incremental allowance for sampling risk.c. Projected misstatement.d. Tolerable misstatementarrow_forward
- A principal advantage of statistical methods of attribute sampling over nonstatistical methods is that they provide a scientific basis for planning the A. risk of overreliance B. tolerable rate C. expected population deviation rate D. Sample sizearrow_forwardProbability samples versus nonprobability samples; also briefly define the types of valid probability samples.arrow_forwardWhen is Attribute sampling used?arrow_forward
- Which one of the following measures is relevant for assessing exposure to systematic risk? A. variance B. beta C. standard deviation D. theta E. alphaarrow_forward1. Which of the following would be designed to estimate a numerical measurement of a population, such as monetary value?* A. Sampling for variables B. Sampling for attributes C. Sequential sampling D. Discovery sampling E. None of themarrow_forward
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