The Appropriate Assumption to Make Regarding the Overall Percent of Error

question 47

Multiple Choice

The appropriate assumption to make regarding the overall percent of error in those population items containing an error is:

• A) set after a quantitative analysis of client's internal control system.
• B) based on statistical analysis using confidence limits.
• C) determined using random number tables.
• D) based on the auditor's personal judgement in the circumstances.

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Definitions:

Natural Resources

Materials and components found in nature that can be used for economic gain or necessary for life, such as water, timber, and minerals.

Powerful Nations

Countries that possess significant political, economic, and military influence on a global scale.

Stratification

The hierarchical arrangement of individuals in a society based on factors like wealth, income, race, education, and power.

High Birthrates

A demographic condition where the number of births in a population is significantly higher than the global average.