During a Client's Stocktake You Select a Sample of Items

question 16

Multiple Choice

During a client's stocktake you select a sample of items from the floor, count them and trace the quantities to the inventory summary sheet.Which financial report assertion is this audit procedure related to?

• A)Valuation and allocation.
• B)Rights and obligations.
• C)Completeness.
• D)Existence.

Understand the concept and application of cyber-vetting in the context of recruitment.

Analyze the implications of requiring or restricting the use of social media by employees.

Recognize the innovations in targeting potential job candidates before they actively enter the job market.

Understand how social media can be employed by organizations to communicate with employees and the public in crisis situations.

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Definitions:

Population Average

The mean value of a characteristic within an entire population.

Standard Error

The standard deviation of the sampling distribution of a statistic, often used to estimate the accuracy of a sample mean compared to the population mean.

Sample Mean

The average of all observed values in a sample from a population.

Level of Significance

A statistical measure that determines the threshold at which a hypothesis test results in a rejection of the null hypothesis.