State what is meant by a representative sample and explain its importance in sampling audit populations.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing and Assurance services an integrated approach

ISBN: 978-0132575959

14th Edition

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

See More Books

Question Posted: Oct 10, 2012 07:47 AM

See More Questions

State what is meant by the cash flow approach to replacement analysis, and list two reasons why it is not a good idea to use this method.
In your own words, state what is meant by the term innovation.
Explain briefly what is meant by a distributed data processing system.
Evaluate the derivatives of the following functions. (z) = cot -1 z
You own a large collection of fine wines. You now decide that you must liquidate this valuable asset. However, you predict that the value of your collection will rise in the next few years. The...
Do you see a conflict between todays emphasis on risk taking and decision learning and the six steps in Exhibit 6.3 that are associated with effective decision making? Discuss. LO.1
Accounting and Machiavellianism. A study of Machiavellian traits in accountants was published in Behavioral Research in Accounting (Jan. 2008). Machiavellian describes negative character traits such...
Sutton Construction Inc. is a privately held, family-founded corporation that builds single- and multiple-unit housing. Most projects Sutton Construction undertakes involve the construction of...
The following partial information is available. Complete the table by filling in all the blanks. Each case is independent. Variable Fixed Total Operating Contribution Case Revenues Costs Costs Costs...
The annual planning process at Century Office Systems, Inc. had been arduous but produced a number of important marketing initiatives for the next year. Most notably, company executives had decided...
The Securities and Exchange Commission (SEC) found that Bally Total Fitness Holding Corporation, a nationwide commercial operator of fitness centers, fraudulently accounted for three types of...
Explain the major difference between statistical and nonstatistical sampling. What are the three main parts of statistical and nonstatistical methods?
Consider the query: Rewrite this query without using the with construct. with dept_total (dept_name, value) as (select dept_name, sum(salary) from instructor group by dept_name),...
Safeway, Inc., operated 1,739 stores as of January 3, 2009. The following data were taken from the company's annual report. All dollar amounts are in thousands. Required a. Compute Safeway's...
Rich French, the owner of Rich's Fishing Supplies, is surprised at the amount of actual inventory at the end of the year. He thought there should be more inventory on hand based on the amount of...
Carol Lapaz owned a small company that sold boating equipment. The equipment was expensive, and a perpetual system was maintained for control purposes. Even so, lost, damaged, and stolen merchandise...
The following footnote related to accounting for inventory was taken from the 2008 annual report of Wal-Mart, Inc. Inventories The Company values inventories at the lower of cost or market as...
Plot the magnitude and phase of the frequency response of normalized n-th order lowpass Butterworth filters.
Profi ts shown by marginal costing and profi ts shown by absorption costing will not be _________________ at all conditions.
Flicker, Inc., a closely held corporation, acquired a passive activity this year. Gross income from operations of the activity was $160,000. Operating expenses, not including depreciation, were...
Many chefs prefer to work with organic products. Correct any apostrophe errors in the following sentences. Write your correction. If a sentence is correct, write C.
Indicate the four phases of the audit process. In which phase does the auditor perform tests of controls?
Define attributes sampling. For which types of tests do auditors use attributes sampling?
What are the three main phases of audit sampling? Are these phases the same for statistical and nonstatistical sampling methods?
Lakeland Inc. manufactured 2,500 units during the month of March. They incurred direct materials cost of $58,000 and overhead costs of $40,000. If their per-unit prime cost was $32.00 per unit, how...
Present Value Computations Using the present value tables, solve the following. ( Click here to access the PV and FV tables to use with this problem. ) Round your answers to two decimal places....
A company provided the following data: Sales $887,000 Variable costs $546,800 Fixed costs $310,000 Expected production and sales in units 36,000 What is the break-even point in sales dollars? Please...

State what is meant by a representative sample and explain its importance in sampling audit populations.

Question:

Step by Step Answer:

A representative sample is one in which the characteristics of ...View the full answer

Auditing and Assurance services an integrated approach

Students also viewed these Auditing questions