Williams,CPA,is Using Attributes Sampling to Test Controls Related to the Completeness

question 88

Multiple Choice

Williams,CPA,is using attributes sampling to test controls related to the completeness of purchasing transactions.Williams decided to select all purchase orders from September for testing.This is an example of

• A)Random selection
• B)Block selection
• C)Haphazard selection
• D)Monthly selection

---

Definitions:

GAAP

GAAP stands for Generally Accepted Accounting Principles, which are a set of rules and standards used in financial reporting and accounting in the United States.

Impairment Losses

The decrease in an asset's net carrying value that exceeds its recoverable amount.

Held-to-Maturity

A classification for investment securities that a company intends and has the ability to hold until they mature.

IFRS

IFRS stands for International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) aiming at making global financial statements more comparable, transparent, and reliable.