Which One of the Following Statements Is a Valid Criticism

question 25

Multiple Choice

Which one of the following statements is a valid criticism of the use of nonstatistical sampling methods?

• A) Nonstatistical sampling does not differ substantially from statistical sampling methods.
• B) The cost of performing random selection of testing often exceeds the benefits.
• C) Conclusions may be drawn in more precise ways when using statistical sampling methods.
• D) Many audit texts, such as footing of journals, must be performed outside a statistical sampling context.

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Definitions:

Equilibrium Output

The level of output where the quantity demanded equals the quantity supplied in a market, leading to no pressure for change.

Price Level

A measure of the average prices of goods and services in an economy at a given time, often influencing inflation rates.

Long-run Equilibrium

A state in which economic forces such as supply and demand are balanced, occurring when the level of output is sustainable in the long term without creating inflation.

Labor Force

The total number of people available for work, including both the employed and the unemployed who are seeking employment.