Which Of The Following Statements Is True Concerning Statistical Sampling In Tests Of Controls?
Inspect Sampling (Test of Command)
ane. The entire set up of data from which a sample is selected and near which the auditor wishes to draw conclusions is
A. Population
B. Sample
C. Sampling unit
D. Database
ii. The gamble that the auditor's decision based on a sample may exist different from the conclusion if the entire popularulation
were subjected to the same audit procedure is
A. Sampling take chances
B. Non-sampling take chances
C. Risk of incorrect rejection
D. Risk of incorrect credence
3. A 3. Sampling gamble thursdayat leads the accountant 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 risk besides high
C. Run a risk of incorrect rejection
D. Adventure of wrong credence
4. C four. Sampling risk that leads thdue east auditor to conclude that a material misstatement exists when in fact it does non is
A. Adventure of assessing control risk too low
B. Risk of assessing command hazard also loftier
C. Risk of incorrect rejection
D. Risk of incorrect acceptance
5. D five. Of the four erroneous conclusions from a sampling hazard, the auditor is primarily concerned with
A. Take a chance of assessing control gamble as well low
B. Gamble of assessing control chance likewise loftier
C. Risk of incorrect rejection
D. Risk of incorrect acceptance
6. B 6. Which is non true of an "Alpha risk" in sampling?
I. It is the risk of assessing command chance too high or the risk of incorrect rejection.
II. It relates to the effectiveness of the audit.
III. It usually leads the auditor to boosted work to establish that initial conclusions were wrong.
A. I and Two simply
B. I and III only
C. II and III simply
D. I, Two, and III
7. The likelihood of assessing control run a risk likewise high is the run a risk that the sample selected to test controls
A. Does not support the accountant'southward planned assessed level of control risk when the truthful operating effectiveness of the
command structure justifies such an assessment
B. Contains misstatements that could exist fabric to the financial statements when aggregated with misstatements in other
account balances or transactions classes
C. Contains proportionately fewer monetary errors or deviations from prescribed controls than exist in the remainder or course
equally a whole
D. Does not support the tolerable error for some or all of management's assertions
8. B 8. A misstatement or deviation that is demonstrably not representative of misstatements or deviations in a population
A. Sampling run a risk
B. Anomaly
C. Error
D. Corruption
Audit Sampling PSA 530 (Test of Controls)
9. The process of dividing a population into subpopulations, each of which is a group of sampling units which take
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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