In Using Audit Sampling for Exception Rates

question 5

Multiple Choice

In using audit sampling for exception rates

• A) the auditor wants to know the most the exception rate is likely to be.
• B) sampling error is the likelihood that the auditor will miss a monetary misstatement.
• C) the upper limit of the interval estimate is known as the sampling risk.
• D) the computed upper exception rate (CUER) cannot be considered in the context of specific audit objectives.

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