For Which of the Following Audit Procedure Would Sampling Be

question 65

Multiple Choice

For which of the following audit procedure would sampling be most appropriate?

• A) Inquiry
• B) Observation
• C) Confirmation
• D) Analytics

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Definitions:

U.S. GAAP

United States Generally Accepted Accounting Principles; the standard framework of guidelines for financial accounting used in the United States.

Expenses

The costs incurred by a business in the process of earning revenue, such as rent, salaries, and utilities, excluding the cost of goods sold.

Domestic Country

The country in which a company is headquartered or operates primarily.

Foreign Countries

Nations that are located outside of one's own country, often implying cross-border interactions.