An Advantage of Statistical Sampling Over Nonstatistical Sampling Is That

question 88

Multiple Choice

An advantage of statistical sampling over nonstatistical sampling is that statistical sampling helps an auditor to:

• A)Eliminate nonsampling risk.
• B)Reduce the level of audit risk and overall materiality to a relatively low level.
• C)Measure the sufficiency of the evidence gathered.
• D)Minimize the failure to detect misstatements and irregularities.

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Definitions:

Generation X

This term refers to the generation of people born approximately between the early-to-mid 1960s and the early 1980s, recognized for their distinct cultural and economic experiences.

Baby Boomers

The demographic cohort born approximately between 1946 and 1964, noted for its significant size and impact on society and the economy.

Constraint

A limitation or restriction on actions, activities, or decisions.

Cooperation

A process where two or more entities work together toward achieving a common goal, often entails sharing information, resources, and efforts.