When the Auditor Goes Through a Population and Selects Items

question 111

Multiple Choice

When the auditor goes through a population and selects items for the sample without regard to their size, source, or other distinguishing characteristics, it is called:

• A) block sample selection.
• B) statistical selection.
• C) systematic sample selection.
• D) haphazard selection.

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Definitions:

Highest Price

The maximum price at which a good, service, or asset is sold in the market, often influenced by factors such as scarcity, demand, and quality.

Pure Monopolist

An entity that is the sole provider of a particular product or service in a market, without any competitors, effectively controlling the market.

Increase Price

A strategy or action where the selling price of goods or services is raised to generate higher revenue or cope with increased costs.

Volume of Sales

The total quantity of goods or services sold by a company within a specific period.