Sample Selection Before Procedures Using Statistical or Nonstatistical Sampling Methods

question 105

Essay

Sample selection Before procedures using statistical or nonstatistical sampling methods begin,the auditor must determine how the sample will be selected.Discuss the various types of sample selection,when they are used and,generally,how they are used.Give examples.

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Definitions:

Recession

A phase of short-term economic downturn characterized by decreased trading and industrial output, generally recognized by a drop in Gross Domestic Product across two consecutive quarters.

National Debt

The aggregate financial obligations incurred by a government of a country through borrowing.

Tax Revenue

The income gained by the government through taxation, which is then used to fund public services and governmental functions.

Budget

An estimate of income and expenditure for a set period of time.