If an Auditor Was Not Present at a New Client's

question 59

True/False

If an auditor was not present at a new client's inventory count,the auditor has no obligation to test the inventory.

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Definitions:

Range

The difference between the highest and lowest values in a set of numbers.

Normal Model

A probability distribution that is symmetrical about its average, indicating that occurrences close to the mean are more common than those further away.

Central 68%

Central 68% is a statistical term that refers to the percentage of data within one standard deviation of the mean in a normal distribution, implying that about 68% of the data fall within this range.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, indicating how much the values differ from the mean.