An Advantage of Using Statistical Sampling Techniques Is That Such

question 25

Multiple Choice

An advantage of using statistical sampling techniques is that such techniques:

• A)mathematically measure risk.
• B)eliminate the need for judgmental decisions.
• C)define the values of precision and reliability required to provide audit satisfaction.
• D)have been established in the courts to be superior to judgmental sampling.

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Definitions:

Active Volcano

A volcano that has erupted in the recent past and is considered likely to do so again.

Iron-Nickel Meteorite

A type of meteorite consisting mainly of iron and nickel, typically formed from the core of ancient asteroids.

Continental Crust

The type of Earth’s crust that underlies the continents and the continental shelves; average granitic composition, but includes diverse types of material.

Oceanic Crust

the part of the Earth's crust that underlies the oceans, thinner and denser than continental crust.