Variablestimation Sampling Is Used

question 58

Multiple Choice

Variablestimation sampling is used:

• A) when the auditor does not expect any errors in an account balance.
• B) to obtain a level of confidence that key attributes for the sample tested can be inferred to be in existence for the entire population.
• C) when the auditor conducts tests of controls.
• D) if the auditor expects more than a few errors in an account balance.

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Definitions:

Pre-Contract Statements

Statements made by parties involved before a contract is finalized, which may influence the agreement or understanding of the contract.

Consideration

In contract law, the benefit or value that each party agrees to exchange as part of a contractual agreement, which is a requirement for a valid contract.

Assignee

A person to whom an assignment is made.

Assignor

The maker of an assignment.