Which Of The Following Statements Is True Concerning Statistical Sampling In Tests Of Controls?
Audit Sampling (Exam of Control)
one. The entire set up of data from which a sample is selected and about which the auditor wishes to draw conclusions is
A. Population
B. Sample
C. Sampling unit of measurement
D. Database
2. The gamble that the auditor'due south decision based on a sample may be unequalerent from the conclusion if the entire population
were subjected to the aforementioned audit procedure is
A. Sampling risk
B. Non-sampling risk
C. Risk of incorrect rejection
D. Risk of wrong acceptance
three. A 3. Sampling risk thursdayat leads thursdaye auditor to conclude that controls are more effective than they actually are is
A. Risk of assessing control risk too low
B. Risk of assessing control hazard as well high
C. Risk of incorrect rejection
D. Risk of incorrect acceptance
4. C 4. Sampling risk that leads the auditor to conclude that a material misstatement exists when in fact it does not is
A. Chance of assessing control risk too depression
B. Adventure of assessing control gamble as well high
C. Risk of incorrect rejection
D. Risk of incorrect credence
five. D v. Of the four erroneous conclusions from a sampling take chances, the accountant is primarily concerned with
A. Take chances of assessing control risk too depression
B. Risk of assessing control gamble too high
C. Risk of incorrect rejection
D. Risk of incorrect acceptance
six. B 6. Which is not true of an "Alpha run a risk" in sampling?
I. It is the risk of assessing control risk too high or the risk of incorrect rejection.
Two. It relates to the effectiveness of the audit.
III. It usually leads theastward auditor to additional work to establish that initial conclusions were incorrect.
A. I and II just
B. I and III only
C. Ii and III only
D. I, II, and III
7. The likelihood of assessing control risk too high is the risk that the sample selected to exam controls
A. Does non support the auditor'due south planned assessed level of control risk when the truthful operating effectiveness of the
control structure justifies such an assessment
B. Contains misstatements that could be material to the financial statements when aggregated with misstatements in other
account balances or transactions classes
C. Contains proportionately fewer budgetary errors or deviations from prescribed controls than exist in the balance or form
every bit a whole
D. Does not support the tolerable error for some or all of management's assertions
viii. B viii. A misstatement or deviation that is demonstrably not representative of misstatements or deviations in a population
A. Sampling risk
B. Bibelot
C. Fault
D. Corruption
Inspect Sampling PSA 530 (Test of Controls)
9. The procedure of dividing a population into subpopulations, each of which is a group of sampling units which accept
similar characteristics (often monetary value) is
A. Division
B. Stratification
C. Grouping
D. Characterization
Which Of The Following Statements Is True Concerning Statistical Sampling In Tests Of Controls?,
Source: https://www.studocu.com/ph/document/our-lady-of-the-pillar-college-cauayan/accountancy/audit-samplingtest-of-control/13392339
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