During the Audit of the Fixed Asset Section,the Auditor Decided

question 45

Multiple Choice

During the audit of the fixed asset section,the auditor decided to inspect source documents supporting all fixed asset additions exceeding $3000.This type of audit procedure is called a

• A)census of the strata over $3000.
• B)analytical review.
• C)attribute sample.
• D)monetary unit sample.

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Definitions:

Poisson Random Variable

A type of random variable that represents the number of events occurring in a fixed interval of time or space, under the condition that these events happen with a known constant mean rate and independently of the time since the last event.

Probability Distribution

A probability distribution is a statistical function that describes all the possible values and likelihoods that a random variable can take within a given range.

Occurrences

Occurrences refer to the instances or events of something happening or being present in a particular context or dataset.

Poisson Distribution

A probability distribution that expresses the probability of a given number of events happening in a fixed interval of time or space, assuming these events occur with a known constant mean rate and independently of the time since the last event.