Audit Sampling

Audit Sampling

University

8 Qs

quiz-placeholder

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Audit Sampling

Audit Sampling

Assessment

Quiz

Business

University

Practice Problem

Medium

Created by

Sarini Azizan

Used 141+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A sample in which the characteristics of the sample are the same as those of the population is a(n)

variables sample

representative sample

attributes sample

random sample

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

When the auditor decides to select less than 100 percent of the population for testing, the auditor is said to use

audit sampling

representative sampling

poor judgment

estimation sampling

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

One of the causes of nonsampling risk is

inadequate sample size

choosing the wrong sample size

ineffective audit procedures

exceptions being found in the sample

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which one of the choices below is most correct regarding a cause of sampling risk

ineffective use of audit procedures

testing less than the entire population

use of extensive tests of controls

use of random sampling

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

One way to control sampling risk is to increase sample size

True

False

6.

MULTIPLE SELECT QUESTION

3 mins • 1 pt

Assume a client's internal controls require each sales invoice to be supporting by a shipping document prepared by an outside company, but the clerk preparing sales invoices fails to follow this procedure exactly 3 percent of the time. If the auditor selects a sample of 100 sales invoices and finds two or four sales invoices are missing a shipping document, the sample is nonrepresentative of the population.

True

False

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

There are three phases in both statistical and nonstatistical sampling. The first phase is to

generate random numbers for the sample

evaluate the results

plan the sample

select the sample

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