The Choice of Using Audit Sampling Vs

question 50

Multiple Choice

The choice of using audit sampling vs.audit data analytics (ADA) _______.

• A)is typically left up to senior management
• B)is often a matter of what is most effective and efficient in determining whether an assertion is presented fairly, in all material respects
• C)is often a matter of what is most effective and efficient in determining whether a control is presented fairly, in all material respects
• D)should be determined by the client's legal counsel

---

Definitions:

Internally Generated

Refers to assets or resources that are created or produced within a company, rather than acquired from external sources.

Straight-Line Method

A method of calculating depreciation of an asset, which assumes the asset will lose an equal amount of value each year over its useful life.

Residual Value

The estimated value that an asset will have at the end of its useful life, also known as salvage value.

Gain Or Loss

The difference between the selling price and the purchase price of an asset, resulting in a financial profit or loss.