A Representative Audit Sample _______

question 33

Multiple Choice

A representative audit sample _______.

• A)is likely to provide a reasonable basis for drawing a conclusion about an entire population
• B)is unlikely to provide a reasonable basis for drawing a conclusion about an entire population
• C)should be agreed upon by management and the auditor
• D)should not involve the auditor

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Definitions:

Confidence Interval

A range derived from sample statistics that likely contains the true population parameter at a specified level of confidence.

Standard Deviation

An assessment of the level of disparity or distribution spread in a dataset.

Random Sample

A random sample is a subset of individuals chosen from a larger set, or population, where each individual has an equal chance of being selected.

Confidence Interval

A cadre of numbers, derived from analyzing sample data, assumed likely to encase the value of a yet-to-be-discussed population attribute.