In Attributes Sampling If the Selected Item Cannot Be Located,the

question 38

True/False

In attributes sampling if the selected item cannot be located,the auditor should assume that the control procedure was not followed and assess that item as a failure.

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Definitions:

Withdraw

The act of removing oneself from participation or consideration in a particular activity, agreement, or engagement.

Transferable Interest

A stake or share in a property or enterprise that can be legally transferred from one party to another.

Dissolution

The process of legally dissolving a corporation or partnership, effectively bringing its existence to an end.

RUPA

Refers to the Revised Uniform Partnership Act, which is a set of laws adopted by some U.S. states to govern the formation, operation, and dissolution of partnerships.