A Popular Way to Select a Sample Is _______

question 94

Multiple Choice

A popular way to select a sample is _______.

• A)using random number generators
• B)asking management to select the sample
• C)asking the internal auditors to select a sample
• D)to pick accounts with large balances, on the basis that inherent risk related to these accounts is higher

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Definitions:

Financial Reporting Practices

Procedures and standards governing how a company's financial health and operations are recorded, summarized, and reported to stakeholders.

Budgeting System

A systematic approach to planning and controlling the financial resources of an organization or individual.

Accrual Accounting

Accounting method that records revenues and expenses when they occur, not necessarily when cash actually changes hands.

Credit

Receiving money, goods, or services on the basis of an agreement between the lender and the borrower that the loan is for a specified period of time with a specified rate of interest.