Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable , under generally accepted auditing standards.

Question

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Answer 1

Question

Chapter G, Problem 64EP

a.

To determine

Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable, under generally accepted auditing standards.

b.

To determine

State the advantages of using statistical sampling in the audit

c.

To determine

Identify the risks related with sampling, and state the type of losses exposed to Person C.

d.

To determine

State the manner in which Person C establishes the appropriate level of the risk of incorrect acceptance.

e.

To determine

State whether Person C is permitted to specify the certain items examined, or whether all items must be randomly selected.

f.

To determine

State the manner in which Person C can increase the likelihood that the items in the sample are representative of the population.

g.

To determine

State whether any other factors are important for Person C to consider with respect to the misstatements.

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Answer 2

Question

Chapter G, Problem 64EP

a.

To determine

Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable, under generally accepted auditing standards.

b.

To determine

State the advantages of using statistical sampling in the audit

c.

To determine

Identify the risks related with sampling, and state the type of losses exposed to Person C.

d.

To determine

State the manner in which Person C establishes the appropriate level of the risk of incorrect acceptance.

e.

To determine

State whether Person C is permitted to specify the certain items examined, or whether all items must be randomly selected.

f.

To determine

State the manner in which Person C can increase the likelihood that the items in the sample are representative of the population.

g.

To determine

State whether any other factors are important for Person C to consider with respect to the misstatements.

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Answer 3

Question

Chapter G, Problem 64EP

a.

To determine

Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable, under generally accepted auditing standards.

b.

To determine

State the advantages of using statistical sampling in the audit

c.

To determine

Identify the risks related with sampling, and state the type of losses exposed to Person C.

d.

To determine

State the manner in which Person C establishes the appropriate level of the risk of incorrect acceptance.

e.

To determine

State whether Person C is permitted to specify the certain items examined, or whether all items must be randomly selected.

f.

To determine

State the manner in which Person C can increase the likelihood that the items in the sample are representative of the population.

g.

To determine

State whether any other factors are important for Person C to consider with respect to the misstatements.

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Answer 4

Question

Chapter G, Problem 64EP

a.

To determine

Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable, under generally accepted auditing standards.

b.

To determine

State the advantages of using statistical sampling in the audit

c.

To determine

Identify the risks related with sampling, and state the type of losses exposed to Person C.

d.

To determine

State the manner in which Person C establishes the appropriate level of the risk of incorrect acceptance.

e.

To determine

State whether Person C is permitted to specify the certain items examined, or whether all items must be randomly selected.

f.

To determine

State the manner in which Person C can increase the likelihood that the items in the sample are representative of the population.

g.

To determine

State whether any other factors are important for Person C to consider with respect to the misstatements.

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Answer 5

Chapter G, Problem 64EP

a.

To determine

Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable, under generally accepted auditing standards.

b.

To determine

State the advantages of using statistical sampling in the audit

c.

To determine

Identify the risks related with sampling, and state the type of losses exposed to Person C.

d.

To determine

State the manner in which Person C establishes the appropriate level of the risk of incorrect acceptance.

e.

To determine

State whether Person C is permitted to specify the certain items examined, or whether all items must be randomly selected.

f.

To determine

State the manner in which Person C can increase the likelihood that the items in the sample are representative of the population.

g.

To determine

State whether any other factors are important for Person C to consider with respect to the misstatements.

Answer 6

Chapter G, Problem 64EP

a.

To determine

Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable, under generally accepted auditing standards.

Answer 7

Chapter G, Problem 64EP

a.

To determine

Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable, under generally accepted auditing standards.

Answer 8

b.

To determine

State the advantages of using statistical sampling in the audit

Answer 9

b.

To determine

State the advantages of using statistical sampling in the audit

Answer 10

c.

To determine

Identify the risks related with sampling, and state the type of losses exposed to Person C.

Answer 11

c.

To determine

Identify the risks related with sampling, and state the type of losses exposed to Person C.

Answer 12

d.

To determine

State the manner in which Person C establishes the appropriate level of the risk of incorrect acceptance.

Answer 13

d.

To determine

State the manner in which Person C establishes the appropriate level of the risk of incorrect acceptance.

Answer 14

e.

To determine

State whether Person C is permitted to specify the certain items examined, or whether all items must be randomly selected.

Answer 15

e.

To determine

State whether Person C is permitted to specify the certain items examined, or whether all items must be randomly selected.

Answer 16

f.

To determine

State the manner in which Person C can increase the likelihood that the items in the sample are representative of the population.

Answer 17

f.

To determine

State the manner in which Person C can increase the likelihood that the items in the sample are representative of the population.

Answer 18

g.

To determine

State whether any other factors are important for Person C to consider with respect to the misstatements.

Answer 19

g.

To determine

State whether any other factors are important for Person C to consider with respect to the misstatements.

Answer 20

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Answer 21

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Answer 22

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Answer 23

Ch. G - Prob. 1RC Ch. G - Prob. 2RC Ch. G - Prob. 3RC Ch. G - Prob. 4RC Ch. G - Prob. 5RC Ch. G - Prob. 6RC Ch. G - Prob. 7RC Ch. G - Prob. 8RC Ch. G - Prob. 9RC Ch. G - Prob. 10RC

Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable , under generally accepted auditing standards.

Identify whether Person C can use non-statistical sampling in the examination of Company V accounts receivable, under generally accepted auditing standards.

State the advantages of using statistical sampling in the audit

Identify the risks related with sampling, and state the type of losses exposed to Person C.

State the manner in which Person C establishes the appropriate level of the risk of incorrect acceptance.

State whether Person C is permitted to specify the certain items examined, or whether all items must be randomly selected.

State the manner in which Person C can increase the likelihood that the items in the sample are representative of the population.

State whether any other factors are important for Person C to consider with respect to the misstatements.

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Chapter G Solutions