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.

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Definitions:

Private Benefits

The gains or advantages that accrue directly to an individual or firm from an economic transaction or activity, not affecting others not involved in the transaction.

Negative Externality

A cost that affects a party who did not choose to incur that cost, often associated with production or consumption of goods and services.

Property Value

The market worth of real estate, influenced by factors such as location, amenities, and the condition of the property.

External Cost

A cost that is not borne by the parties to an economic transaction, often affecting third parties who did not choose to incur that cost.