Which Of The Following Statements Is Correct Concerning Statistical Sampling In Tests Of Controls?
Audit Sampling (Test of Control)
1. The entire gear up of data from which a sample is selected and about which the auditor wishes to depict conclusions is
A. Population
B. Sample
C. Sampling unit
D. Database
2. The risk that the auditor'south conclusion based on a sample may be different from the determination if the entire population
were subjected to the aforementioned audit procedure is
A. Sampling risk
B. Not-sampling risk
C. Gamble of wrong rejection
D. Risk of incorrect credence
iii. A iii. Sampling run a risk that leads the auditor to conclude that controls are more effective than they actually are is
A. Chance of assessing control risk too low
B. Gamble of assessing control risk besides loftier
C. Risk of incorrect rejection
D. Risk of incorrect acceptance
4. C 4. Sampling risk that leads the auditor to conclude that a cloth misstatement exists when in fact information technology does not is
A. Risk of assessing command risk too low
B. Risk of assessing command risk too high
C. Risk of incorrect rejection
D. Risk of incorrect credence
5. D 5. Of the four erroneous conclusions from a sampling risk, the auditor is primarily concerned with
A. Gamble of assessing control risk as well depression
B. Run a risk of assessing control gamble as well high
C. Take a chance of incorrect rejection
D. Chance of incorrect acceptance
vi. B half-dozen. Which is not true of an "Alpha risk" in sampling?
I. It is the gamble of assessing control gamble as well high or the risk of incorrect rejection.
Two. Information technology relates to the effectiveness of the audit.
Three. It usually leads thdue east auditor to boosted work to institute that initial conclusions were incorrect.
A. I and 2 but
B. I and III only
C. II and Three only
D. I, II, and III
7. The likelihood of assessing control risk too high is the take a chance that the sample selected to test controls
A. Does not support the accountant'due south planned assessed level of command risk when the truthful operating effectiveness of the
control structure justifies such an assessment
B. Contains misstatements that could be material to the financial statements when aggregated with misstatements in other
account balances or transactions classes
C. Contains proportionately fewer monetary errors or deviations from prescribed controls than exist in the balance or class
every bit a whole
D. Does not support the tolerable error for some or all of management's assertions
viii. B 8. A misstatement or difference that is demonstrably non representative of misstatements or deviations in a population
A. Sampling risk
B. Anomaly
C. Mistake
D. Abuse
Audit Sampling PSA 530 (Test of Controls)
9. The process of dividing a population into subpopulations, each of which is a group of sampling units which have
similar characteristics (ofttimes budgetary value) is
A. Division
B. Stratification
C. Group
D. Characterization
Which Of The Following Statements Is Correct Concerning Statistical Sampling In Tests Of Controls?,
Source: https://www.studocu.com/ph/document/our-lady-of-the-pillar-college-cauayan/accountancy/audit-samplingtest-of-control/13392339
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