An Advantage of Statistical Sampling Over Non-Statistical Sampling Is That

question 20

Multiple Choice

An advantage of statistical sampling over non-statistical sampling is that statistical sampling helps an auditor to ________.

• A)minimize the failure to detect errors and irregularities
• B)eliminate the risk of non-sampling errors
• C)reduce the level of audit risk and materiality to a relatively low amount
• D)make a preliminary estimate of the appropriate sample size

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Definitions:

American Automobile Industry

A sector of the economy focused on the manufacturing, marketing, and sale of motor vehicles in the United States.

Korean Steel Industry

The sector involving the production and manufacturing of steel within South Korea, known for its significant contribution to the global market.

Domestic Steel Industry

The segment of the economy that involves the production and distribution of steel within a specific country.

U.S. Consumers

Individuals or households within the United States that purchase goods and services for personal use.