When Monetary-Unit Sampling Has Been Concluded and the Population Is

question 39

Multiple Choice

When monetary-unit sampling has been concluded and the population is not considered acceptable, which one of the following courses of action would NOT be appropriate for the auditor?

• A) Refuse to give an unqualified opinion.
• B) Request the client to correct the population.
• C) Increase the sample size to see if this may satisfy the auditor's tolerable misstatement requirements.
• D) Increase the tolerable misstatement amounts so that the error bounds are acceptable.

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Definitions:

Circle Graph

A circular chart divided into sectors, each representing a proportion of the total; also known as a pie chart.

Sales Revenues

The total amount of money generated from the sale of goods or services before any expenses are subtracted.

Prescription Medicine

Medications that can only be obtained with a written order from a licensed healthcare provider.

Histogram

A graphical representation of data that groups numbers into ranges, showing the frequency of data points within those ranges as bars.