An Advantage of Using Statistical Over Non-Statistical Sampling Methods in Tests

question 33

Multiple Choice

An advantage of using statistical over non-statistical sampling methods in tests of controls is that the statistical methods:

• A) provide an objective basis for quantitatively evaluating sampling risk.
• B) afford greater assurance than a non-statistical sample of equal size.
• C) eliminate the need to use judgment in determining appropriate sample sizes.
• D) can more easily convert the sample into a dual-purpose test useful for substantive testing.

Compare the financial outcomes of tax-deferred versus taxable investment accounts.

Calculate expected outcomes using mortality tables in insurance risk assessment.

Determine contribution amounts required to achieve specific financial goals in retirement planning.

Calculate Social Security benefits based on lifetime earnings and benefit formulas.

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Definitions:

Charismatic/Value-Based

Leadership that combines personal charm and conviction, inspiring followers through the leader's vision and values.

Transformational Leadership

In this leadership style, the leader engages with teams to identify required changes, establishes a guiding vision through inspiration, and carries out the change with the help of devoted group members.

Idealized Influence

A component of transformational leadership where leaders act as role models and earn the admiration, respect, and trust of their followers.

Humane Orientation

A leadership approach that prioritizes compassion, supportiveness, and understanding towards employees.