Which of the Following Is the Risk That an Auditor

question 148

Multiple Choice

Which of the following is the risk that an auditor will reach an incorrect conclusion because a sample is not representative of the population?

• A) sampling risk
• B) nonsampling risk
• C) audit risk
• D) detection risk

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Definitions:

Flexible Benefits Plans

Employee benefit programs that allow workers to choose from a variety of benefits to create a package that best suits their needs.

Diversity

The inclusion of individuals with a variety of characteristics, such as different ethnicities, genders, ages, abilities, and backgrounds, in a group or organization.

Defined Benefit Program

A retirement plan where employee benefits are calculated based on a formula considering factors like salary history and duration of employment.

Income Level

The amount of monetary compensation received by an individual or household from various sources, often used as an indicator of economic status or standard of living.