A Logical Sampling Unit Is Defined as _______

question 111

Multiple Choice

A Logical Sampling Unit is defined as _______.

• A)the item snagged by the sampling plan for audit, such as an individual customer, or individual sales invoice.Tests of controls are performed on the logical sampling unit
• B)the item snagged by the sampling plan for audit, such as an individual customer, or individual sales invoice.Auditing procedures are performed on the logical sampling unit
• C)a department within the client's firm, which will be audited by the external auditor
• D)the item snagged by the sampling plan for audit, such as an aggregated group of customers, or sales invoices.Auditing procedures are performed on the logical sampling unit

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Definitions:

Centered Moving Averages

A type of moving average that smoothes out short-term fluctuations in a time series dataset by averaging a subset of terms at a time, centered around each point in the series.

Quarterly

Pertaining to a period of three months or occurring four times a year.

Forecasted Value

An estimate of what a variable's value will be at a future point in time, based on patterns observed in past data.

Trend Line

A line graphed in a scatter plot to show the general direction of a dataset over time.