When the Auditor Goes Through a Population and Selects Items

question 130

Multiple Choice

When the auditor goes through a population and selects items using nonprobabilistic selection methods, without regard to their size, source, or other distinguishing characteristics, it is called

• A) block sample selection.
• B) haphazard selection.
• C) systematic sample selection.
• D) statistical selection.

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Definitions:

Statement of Stockholders' Equity

A financial statement showing the changes in the value of a company's equity over a specific period, due to earnings, losses, and dividends.

Corporation's Board of Directors

A group of individuals elected by shareholders to oversee the management and make major decisions for a corporation.

Liability

A financial obligation or amount owed by a company to external parties or creditors, which must be settled through the transfer of assets or services.