An Auditor Using Non-Statistical Sampling Cannot

question 90

Multiple Choice

An auditor using non-statistical sampling cannot:

• A) determine a point estimate for the population.
• B) mathematically measure the precision of the point estimate.
• C) draw a random sample.
• D) do any of the above.

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Definitions:

Rate Of Change

The speed at which a variable quantity, such as a number or measurement, changes over a certain period of time.

Sheet Steel

A type of steel that has been rolled into sheets; commonly used in manufacturing and construction industries.

Risk Profile

A plot showing how the value of the firm is affected by changes in prices or rates.

Interest Rate Volatility

The extent to which interest rates fluctuate over time due to market forces, economic policies, or external events.