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Audit sampling

Authored by Akash Goel

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Professional Development

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Audit sampling
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Value-weighted selection in which sample size, selection and evaluation results in a conclusion in monetary amounts, is known as:

Haphazard sampling
Monetary Unit Sampling
Stratified Sampling
Interval sampling

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The extent of tests of controls depends on the audit evidence sought about operating effectiveness, the frequency with which the control operates, the period of reliance, and the expected number of deviations.

True
False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

______ sampling menas sample items are selected in such a way that each sampling unit has a known probability of being selected

Non Statistical Sampling
Random Sampling
Haphazard Sampling

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Stratification is generally applied in:

Statistical Sampling
Non Statistical Sampling

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a factor used to determine sample size.

Inherent Risk
Control Reliance
aggregate expected misstatement
Detection Risk

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Investigating misstatements does not include inquiries of management or others within the entity

True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a population is divided into subpopulations, larger samples are taken from the subpopulation with the larger sizes, ________ is being used.

Sampling with probability proportional to size
Stratified sampling
Block sampling
Haphazard sampling

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