Sampling Methods and Confidence Intervals Are Routinely Used for Financial

question 11

Multiple Choice

Sampling methods and confidence intervals are routinely used for financial audits of large companies.Which of the following is an advantage of doing it this way, versus having a complete audit of all records?

• A)It is much cheaper.
• B)A sample can be done more carefully than a complete audit.
• C)A well-designed sampling audit may yield a more accurate estimate than a less carefully carried out complete audit or census.
• D)All of the above.

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