In Performing Variables Sampling,the Auditor Will Conclude That the Account

question 89

Multiple Choice

In performing variables sampling,the auditor will conclude that the account balance is not materially misstated if the ____ is less than or equal to ____.

• A)Upper limit on misstatement; tolerable misstatement.
• B)Expected error; tolerable misstatement.
• C)Tolerable misstatement; upper limit on misstatement.
• D)Tolerable misstatement; expected error.

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Definitions:

Alloy

Alloy is a mixture of two or more elements, where at least one is a metal, used to enhance properties such as strength and corrosion resistance.

Percent Change

A mathematical calculation that shows how much a quantity has increased or decreased, expressed as a percentage.

Initial Value

The starting point or original amount before any changes, such as growth or depreciation, have been applied.

Final Value

The value of an investment at the end of a specified period, taking into account factors like principal, interest rate, and time.