In Audit Sampling Applications,sampling Risk Is

question 4

Multiple Choice

In audit sampling applications,sampling risk is

• A) A characteristic of statistical sampling applications but not of nonstatistical applications.
• B) The probability that the audit team will fail to recognize erroneous accounting in the client's documentation.
• C) The probability that accounting misstatements will arise in transactions and enter the accounting system.
• D) The probability that an audit team's conclusion based on a sample might be different from the conclusion based on an audit of the entire population.

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Definitions:

High-Level Language

A programming language that is closer to human language, making it easier to read, write, and maintain code.

Machine Language

The lowest-level programming language, consisting of binary or hexadecimal codes that a computer's processor can execute directly.

Bit

The most basic unit of information in computing and digital communications, which can have a value of either 0 or 1.

Unicode

A universal character encoding standard that allows for the representation and handling of text in most of the world's writing systems.