In _______ the Auditor Estimates the Audited Value of the Population

question 54

Multiple Choice

In _______ the auditor estimates the audited value of the population (or each strata) based on a ratio of the audited value of the sample divided by the book value of the sample.

• A)ratio method
• B)difference method
• C)statistical method
• D)populate method

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Definitions:

Subsidy

A financial contribution provided by the government to support or promote a particular economic activity or sector.

Elastic Demand

A market condition where the demand for a product changes significantly in response to changes in price.

Inelastic Supply

Refers to a market scenario where the quantity supplied does not change significantly when the price of the product changes.