Which of the Following Is a Factor of Nonsampling Risk

question 99

Multiple Choice

Which of the following is a factor of nonsampling risk?

• A)Not carrying out the appropriate audit procedure.
• B)Having a sample which does not represent the population.
• C)Using a random sample selection.
• D)Using nonstatistical sampling.

Comprehend the necessity for acting in good faith in insurance dealings and the consequences of failure to do so.

Grasp the legal and contractual foundations guiding the cancellation and termination of insurance policies.

Analyze the effects of misrepresentation in insurance applications and the enforceability of policies under such circumstances.

Understand the general effectiveness of psychotherapy and how it compares to untreated conditions.

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Definitions:

Flexible Financing

A financing approach that offers various adaptable payment options to meet the differing financial needs and situations of borrowers.

Seasonal Funding

Temporary financing used to cover seasonal increases in business expenses or inventory needs.

Cash Flows

The combined total of cash inflows and outflows in a business, essentially affecting its capacity to meet short-term obligations.

Seasonal Sales

Sales fluctuations that occur at certain times of the year, often due to changes in weather, holidays, or other seasonal factors.