An Auditor Is Examining an Important Internal Control in His

question 31

Multiple Choice

An auditor is examining an important internal control in his audit of ABC Company.Because the account balance affected by this control is highly susceptible to fraud,she will reject the sample if even one deviation is discovered.What type of sampling plan should she use

• A)Attributes sampling.
• B)Discovery sampling.
• C)Sequential sampling.
• D)Statistical sampling.

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Definitions:

Public Employees Unions

Labor organizations representing workers employed by governmental bodies, focusing on negotiating wages, working conditions, and benefits.

Labor Union Membership

The enrollment and participation of workers in a labor union to collectively bargain for better wages, working conditions, and benefits.

Southern States

Refers to the states located in the southern region of the United States, often characterized by distinct historical, cultural, and economic aspects.

Monopsonies

Market situations where there is only one buyer for a particular product or service, giving the buyer significant power over prices.