Your Audit Sampling Program States: the Upper Misstatement Limit Is

question 86

Multiple Choice

Your audit sampling program states: the upper misstatement limit is $13,200 and the risk of incorrect acceptance is at the 95% confidence level. This means:

• A) there is a 95% chance the actual misstatement is greater than $13,200.
• B) there is a 5% chance the actual misstatement is less than $13,200.
• C) there is a 95% chance the actual misstatement is less than $13.200.
• D) there is a 5% chance the actual misstatement is greater than $13,200.

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Definitions:

Coerced

Being forced to do something or being pressured into it against one's will.

Conscientious

Characterized by a person's desire to do their work or fulfill their duties well and thoroughly.

Achievement

Refers to the successful completion or reaching of a goal, often resulting from effort and skill.

Inflexibility

The lack of adaptability or willingness to change one's thoughts, actions, or decisions in response to new information or circumstances.