A High Detection Risk Equates to a Low Amount of Audit

question 15

True/False

A high detection risk equates to a low amount of audit evidence needed.

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Definitions:

Quantitative Variable

A variable that can be measured numerically and can vary in quantity, often used in statistical analysis to represent data points.

Histogram

Graphic representation of a frequency distribution using bars to represent each score or group of scores.

Interval Scale

A scale of measurement that shows the order of values and the exact differences between them, but without a true zero point.

Ordinal Scale

A scale of measurement where data is ordered, but the differences between data points cannot be assumed to be equal.