With Nonstatistical Sampling,sampling Risk Is Controlled by

question 17

Multiple Choice

With nonstatistical sampling,sampling risk is controlled by

• A)quantifying sampling risk to keep the risk to an acceptable number
• B)quantifying control risk to keep the risk to an acceptable number
• C)selecting smaller sample sizes
• D)taking a random sample so the sample is representative of the population
• E)evaluating sample results to consider control risk in the evaluation of the results

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Definitions:

Loss

A financial situation where expenses exceed revenues.

Pension Expense

The total cost recognized by an employer for an accounting period regarding the company’s pension plan, comprising service costs, interest costs, plan amendments, and other factors.

Operating Segments

Components of an enterprise that engage in business activities earning revenues and incurring expenses, whose operational results are regularly reviewed by the entity's chief operating decision maker.

External Customers

Individuals or entities that purchase goods or services from a business but are not part of the organization itself.