Substantive Procedures Are Designed to _______

question 64

Multiple Choice

Substantive procedures are designed to _______.

• A)detect material misstatements at the assertion level
• B)evaluate the operating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion level
• C)determine the quantity of audit procedures to be performed
• D)determine when the audit procedures will be performed

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Definitions:

Linear Regression

A calculation of the value of one variable given the value of another. Linear regression assumes that the relationship between variables is linear. See also regression.

Inferential Statistics

The branch of statistics that allows one to make predictions or inferences about a population based on a sample of data.

Type II Error

Deciding wrongly that there was no significant result when in fact there was.

Interval and Ratio

Levels of measurement in statistics where interval data has no true zero point and ratio data has a meaningful zero, allowing for comparison of ratios.