Statistical Sampling Is Less Commonly Used for the Audit of Accounts

question 114

Multiple Choice

Statistical sampling is less commonly used for the audit of accounts payable than for accounts receivable because it is more difficult to:

• A) mathematically calculate and interpret the results.
• B) determine the tolerable exception rate.
• C) define the population.
• D) decide on attributes or variables sampling.

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Definitions:

Probably Ethical

Describes actions or decisions that are likely to be considered morally right, in line with accepted moral standards.

Approved

An acknowledgment or sanction indicating that something meets required standards, policies, or conditions for acceptance or implementation.

Customary

Established patterns of behavior or practices that are considered accepted and traditional within a particular social, cultural, or professional group.

Bribery

The offering, giving, receiving, or soliciting of something of value as a means of influencing the actions of an individual or group in a position of power.