An Advantage of Using Statistical Sampling Techniques Is That Such

question 95

Multiple Choice

An advantage of using statistical sampling techniques is that such techniques

• A) quantify sampling 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:

RFP

Request for Proposal, a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset.

Body of Report

The main section of a report containing the detailed information, analysis, and findings.

Proposal

A formal offer or plan put forward for consideration or discussion by others, often in a business or academic context.

Analysis of Action

The process of examining and breaking down activities to understand their components, purposes, and outcomes.