Which Description Best Illustrates Sampling Risk

question 10

Multiple Choice

Which description best illustrates sampling risk?

• A) Applying audit procedures that are inappropriate for the audit objectives.
• B) Failing to recognize errors or deviations in the documents examined.
• C) Arriving at incorrect statistical conclusions because of computational errors.
• D) Choosing a sample that does not represent the population.

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Definitions:

Equitable Remedy

Remedies granted by courts in situations where monetary compensation is insufficient to address the harm or violation, including injunctions or specific performance.

Limitation Period

The period of time within which legal action must be taken.

Warranty

A promise or guarantee, typically provided by a seller or manufacturer, regarding the condition, functionality, or quality of a product.

Hoist Mechanism

A system or device utilized for lifting or moving heavy objects mechanically.