Daniel Beauchamp Did Not Perform a True Sample When He

question 76

Multiple Choice

Daniel Beauchamp did not perform a true sample when he went to his client to examine sales invoices. He did not use any specific method for choosing the invoices. He let his eye
Catch the items he thought might make up his sample. What technique did he use?

• A) random selection
• B) block selection
• C) haphazard selection
• D) stratified sample selection

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Definitions:

Specific Time Periods

Specific time periods refer to distinct, defined durations used for financial reporting, planning, and analysis, such as quarters or fiscal years.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is received or paid, respectively.

Recorded When Incurred

An accounting principle that stipulates expenses should be recognized in the financial statements in the period they are incurred, regardless of when the cash payments are made.

Adjusting Entries

Journal entries made at the end of an accounting period to update account balances before financial statements are prepared.