Match Six of the Terms (A-L)with the Definitions Provided Below

question 14

Short Answer

Match six of the terms (a-l)with the definitions provided below (1-6):
a.Acceptable risk of incorrect acceptance
b.Acceptable risk of incorrect rejection
c.Difference estimation
d.Misstatement bounds
e.Monetary unit sampling
f.Mean-per-unit estimation
g.Point estimate
h.Probability proportional to size sample selection
i.Ratio estimation
j.Statistical inferences
k.Stratified sampling
l.Variable sampling
________ 1.Conclusions drawn from sample results based on knowledge of sampling distributions.
________ 2.Sampling techniques for tests of details that use the statistical inference processes.
________ 3.The risk that the auditor is willing to take of concluding a balance is materially misstated when it is,in fact,fairly stated.
________ 4.A statistical sampling method that provides upper and lower misstatement bounds expressed in monetary amounts.
________ 5.A method of variables sampling in which the auditor estimates the population misstatement by multiplying the average misstatement in the sample by the total number of population items and also calculates sampling risk.
________ 6.The risk that the auditor is willing to take of accepting a balance as correct when the true misstatement in the balance is greater than tolerable misstatement.

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Definitions:

Voting Common Stock

Shares in a corporation that grant the holder the right to vote on corporate matters, typically relating to the election of the board of directors.

Goodwill

The value attributed to a company's brand name, customer relationships, employee relations, and other intangible assets during an acquisition, over and above the tangible assets' value.