Before Selecting a Sample, It Is Necessary to Specify the Expected

question 9

Multiple Choice

Before selecting a sample, it is necessary to specify the expected error. The main purpose for doing this is:

• A) it is necessary in determining sampling risk.
• B) it is necessary to compare it to the previous year.
• C) it is the maximum amount that can be misstated where the auditor can still conclude that the account is fairly stated.
• D) it is important in determining sample size.

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Definitions:

Logo

A symbol or graphic mark used to identify a company, brand, or product, serving as a visual representation of the entity's identity.

Marketing Mix

A combination of factors that can be controlled by a company to influence consumers to purchase its products, often summarized as product, price, place, and promotion.

Actual Words

The specific, real words spoken or written rather than implied meaning or interpretation.

Communication

The exchange of information, ideas, or feelings between individuals or groups through speaking, writing, or using a common system of signs or behavior.