Which of the Following Is Not an Advantage of Non-Statistical

question 19

Multiple Choice

Which of the following is not an advantage of non-statistical sampling?

• A) It allows an auditor to select a sample that they believe is appropriate.
• B) It allows an auditor to measure sampling risk.
• C) It is lower cost than statistical sampling.
• D) It requires less staff training.

Understand the concept of direct threat and its implications in the workplace.

Identify the role of third parties in requesting accommodations.

Understand the legal obligations of employers regarding age discrimination.

Identify exceptions to mandatory retirement age and understand their legal basis.

---

Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial performance and profitability from an economic standpoint beyond just accounting profit.

Purely Competitive

A market structure characterized by a large number of sellers and buyers where each has a negligible impact on market price and outcomes.

Profit-maximizing Level

The point at which a firm achieves the highest possible profit, where marginal revenue equals marginal cost.

Average Variable Cost

The total variable costs (costs that change with the level of output) of a firm divided by the quantity of output produced.