Factors Considered by an Auditor to Determine the Possibility That

question 14

Multiple Choice

Factors considered by an auditor to determine the possibility that the true population misstatement exceeds a tolerable amount in a nonstatistical sample include all of the following except for

• A) the extent to which items in the population have been audited 100%.
• B) the difference between the point estimate and acceptable control risk.
• C) whether misstatements tend to be offsetting or in only one direction.
• D) the amounts of individual misstatements.

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Definitions:

Bioremediation

The use of living organisms, like bacteria or plants, to remove or neutralize contaminants from polluted areas.

Organic Chemicals

Compounds containing carbon atoms bonded to hydrogen atoms, potentially along with other elements, excluding certain carbon-containing compounds like carbonates.

Phenylalanine

An essential amino acid that is a precursor to neurotransmitters such as dopamine, norepinephrine, and epinephrine.

Aspartame

An artificial sweetener used as a sugar substitute in many foods and beverages, composed of aspartic acid and phenylalanine.