If Controls Over Production Accounting Are Found to Be Strong,an

question 24

Multiple Choice

If controls over production accounting are found to be strong,an auditor can plan to do less testing over ________.

• A)the existence assertion of inventory
• B)the valuation assertion of inventory
• C)the completeness assertion of inventory
• D)the rights assertion over inventory

---

Definitions:

Confidence Interval

A confidence interval provides a range of values, estimated from sample data, that is likely to contain the value of an unknown population parameter, along with a specified level of confidence.

Standard Deviation

An indication of how much the values in a dataset spread out or diverge from one another.

Mean Grams of Fat

The average amount of fat, measured in grams, consumed or contained in a particular diet or food item.

Confidence Interval

A range of values calculated from a set of data so that it is very likely, to a specified probability, that the true parameter of the population is within this range.