In Statistical Sampling,setting the Appropriate Confidence Level and Desired Sample

question 6

Multiple Choice

In statistical sampling,setting the appropriate confidence level and desired sample precision are decisions made by the auditor that will affect sample size for a substantive procedure.Which of the following should not be a factor in the choice of desired precision?

• A) The sampling risk.
• B) The size of an account balance misstatement considered material.
• C) The audit resources available for execution of the sampling plan.
• D) The objectives of the audit test being conducted.

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Definitions:

Subjective Well-Being

An individual's self-assessed happiness or satisfaction with aspects of their life.

Conscientiousness

A personality trait characterized by thoroughness, carefulness, and the desire to do a task well, often associated with high levels of organization and dependability.

Neuroticism

A personality trait characterized by anxiety, fear, moodiness, worry, envy, frustration, jealousy, and loneliness.

Self-Realization

The process of fully understanding and fulfilling one's own potential or true self.