Auditing Sampling Is

question 39

Multiple Choice

Auditing sampling is:

• A)the selection of a sample of items from a population so that the auditor expects the sample and evaluation to be representative of the population.
• B)the selection and evaluation of a sample of items from an account so that the auditor expects the sample to be representative of the account.
• C)the selection and evaluation of a sample of items from a population so that the auditor expects the sample to be representative of the population.
• D)the selection and observation of a sample of items from a population so that the auditor expects the sample to be representative of the population.

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Definitions:

Control Phase

The stage in a process or project where monitoring occurs to ensure that objectives are being met and to implement corrective actions if necessary.

Overall Company Goals

Broad and general objectives that an organization seeks to achieve over a long-term period, guiding its mission and strategic direction.

Just-In-Time (JIT)

A production and inventory control system in which materials are purchased and units are produced only as needed to meet actual customer demand.

Customer Demand

The total amount of a product or service that consumers are willing to purchase at a given price level within a specific time period.