The Confidence Factor for Nonstatistical Sampling Is Based On

question 20

Multiple Choice

The confidence factor for nonstatistical sampling is based on:

• A)the number of items in the account.
• B)auditor judgment.
• C)the risk of misstatement in the account and the level of desired confidence.
• D)variability in the population and the risk of misstatement in the account.

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Definitions:

Shareholder

An individual or entity that owns shares in a corporation, thus holding a portion of the corporation's equity.

Triple Bottom Line

A framework or theory that recommends that companies commit to focusing on social and environmental concerns just as they do on profits, encapsulating people, planet, and profit.

Economically

Pertaining to the efficient, disciplined, and prudent management of resources, often related to financial decisions and policies.

Environmentally

Pertaining to the natural world or ecological matters, often relating to the protection and conservation of the environment.