An Audit Program Lists the Procedure "Select a Sample of 20

question 24

Multiple Choice

An audit program lists the procedure "select a sample of 20 entries in the sales journal and trace to duplicate sales invoices and related shipping documents" as a test of the completeness assertion for inventory.This procedure:

• A)Provides low reliability evidence due to the small sample size.
• B)Provides neither appropriate,nor sufficient audit evidence.
• C)Provides relevant and reliable audit evidence.
• D)Provides inappropriate audit evidence for assertion being audited.

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Definitions:

Linearly Related

It describes a relationship between two variables in which the change in one variable is directly proportional to the change in another variable.

Exercise Hours

This term refers to the amount of time spent on physical activities or exercises, often measured in hours per day or week.

Coefficient of Determination

A statistical measure represented as r^2 that shows the proportion of variance in the dependent variable that is predictable from the independent variable(s).

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution without violating given constraints.