The Finite Correction Factor Is Recommended in Classical Variable Sampling

question 54

True/False

The finite correction factor is recommended in classical variable sampling whenever the auditor samples without replacement.

---

Definitions:

Full-Time Employees

Workers contracted to work a standard number of hours set by their employer, typically considered to be 35-40 hours per week.

Fair Competition

A market condition in which competitors have equal opportunities to offer goods or services, with minimal barriers to entry.

Consumer Rights

The legal entitlements and protections afforded to consumers, which may include the right to safety, the right to be informed, the right to choose, and the right to be heard.

S Corporation

A special type of corporation in which the owners are taxed as partners.