Factors Effecting the Persuasiveness of an Audit Sample Size and Items

question 92

Multiple Choice

Factors effecting the persuasiveness of an audit sample size and items to select relate to:

• A) proper selection of the items in the sample.
• B) sufficiency of the evidence.
• C) adequate sample size.
• D) all of the above

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Definitions:

Balance Sheet

A report detailing a firm's assets, liabilities, and equity of shareholders at a particular moment.

Analyzing Transactions

The process of reviewing and scrutinizing financial transactions to ensure they are correctly recorded in the accounting records.

Ledger

A comprehensive collection of a company's financial accounts, transactions, and balances.

Current Liabilities

Financial liabilities scheduled for payment within a year or the regular business cycle.