You Have Recently Been Hired as an Audit Trainee with an Internal

question 50

Essay

You have recently been hired as an audit trainee with an internal audit department.Your first assignment will be to select the sample for a test of new capital assets acquired over the last two years.Your review of the internal audit files indicates that the last time this work was done the sample to be tested was selected on a judgmental nonstatistical basis.Based on your university/college auditing course,you believe the work offers good potential for the use of statistical sampling techniques.You know that you will have to be able to explain and justify your opinion to the internal audit manager.
Required:
Both statistical sampling and nonstatistical or judgmental sampling have advantages and disadvantages.Briefly state two advantages and two disadvantages of statistical sampling and one advantage and one disadvantage of nonstatistical sampling.

Grasp the genetic basis and implications of specific genetic disorders and syndromes.

Understand the influence of genetic disorders and chromosomal abnormalities on human development.

Describe the process and purpose of prenatal genetic testing methods.

Explain the concept of phenotypic plasticity and its relevance to human traits and behaviors.

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Definitions:

Tanker

A large vessel designed for transporting liquid cargo, such as oil, gas or chemicals.

Oral Contract

An agreement between parties that is made through spoken words and promises rather than in writing, yet is legally binding.

Unilateral Mistake

A misunderstanding where one party to a contract is mistaken about a basic assumption on which the contract is based.

Rescinded

Revoked, canceled, or repealed, usually by official or formal action.