In a Classical Variables Sampling Application,the Auditor Determines There Is

question 19

Multiple Choice

In a classical variables sampling application,the auditor determines there is a 95 percent probability that the true (but unknown) value of an entity's accounts receivable is between $45,000 and $55,000.If the estimated population value is $50,000,the precision is

• A) $10,000.
• B) $5,000.
• C) 95%.
• D) 5%.

---

Definitions:

Testing Records

Documentation that provides detailed information on the tests administered, including the dates of testing, types of tests, scores obtained, and interpretive comments.

Information Sharing

The exchange of data or knowledge between individuals, organizations, systems, or platforms to achieve a mutual objective or to enhance decision-making processes.

FERPA

The Family Educational Rights and Privacy Act, a federal law that protects the privacy of student education records.

School Records

Official documents, reports, and files pertaining to the administration, students, faculty, and activities of an educational institution.