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:
Answer rating: 52% (17 reviews)
A representative sample is one in which the characteristics of ...View the full answer
Answered By
Fahmin Arakkal
Tutoring and Contributing expert question and answers to teachers and students.
Primarily oversees the Heat and Mass Transfer contents presented on websites and blogs.
Responsible for Creating, Editing, Updating all contents related Chemical Engineering in
latex language
4.40+
8+ Reviews
22+ Question Solved
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
Question Posted:
Students also viewed these Auditing 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...
-
calculate Weekly Sales PLAN $ last row BOM $ Plan 160,000 210,000 200,000 150,000 240,000 225,000 Sales $ PLAN 43,243. 50,000 24 Sales $ ACTUAL 37,621. 45,000 62 52,631. 58 53,571.4 80,000 56,250 3...
-
What is the difference between fees and costs?
-
On December 28, 2011, Videotech Corporation (VTC) purchased 10 units of a new satellite uplink system from Tristar Communications for $25,000 each. The terms of each sale were 1/10, n/30. VTC uses...
-
Olourun Ltd is the major employer in the Front Hill area, where the firm is located. The company is considering the acquisition of a new production line. The equipment would cost$720 000 and...
-
A local hotel offers ballroom dancing on Friday nights. A researcher observes the customers and estimates their ages. Discuss the skewness of the distribution of ages if the mean age is 51, the...
-
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?
-
(a) What is the loudness in phons of a 100-Hz sound that has an intensity level of 80 dB? (b) What is the intensity level in decibels of a 4000-Hz sound having a loudness of 70 phons? (c) At what...
-
How do you obtain the CPC certification? For example, how many questions are on the exam, what score do you need to have, how much time do you have to complete it, and where do you take the test?...
-
For year ended 31, Dec, 2022, Revenues are $ 8 m, gross profit is $ 4m, operating profit is $ 3m, and net income is $ 2m. Calculate the operating profit margin.
-
How does Chinua Achebe subvert colonial narratives and challenge Western representations of Africa in "Things Fall Apart," especially through his portrayal of Igbo culture and the consequences of...
-
Financial Instrument and Non Financial Instrument Plato Inc. prepares financial statements in accordance with IFRS. Indicate how each of the following accounts should usually be classified. If an...
-
== i. Ms. Afiya has the opportunity to invest RM20,000 in a project that will generate cash inflows of RM5,000 at the end of each of the next 10 years. Alternatively, Ms. Afiya can invest the...
-
In its Annual Report for the year ended 31 December 2013, IHH Healthcare Berhad, a Malaysian listed company disclosed that it had adopted Malaysian Financial Reporting Standard (MFRS) 10,...
-
In July 2013, cnet.com listed the battery life (in hours) and luminous intensity (i. e., screen brightness, in cd/m2) for a sample of tablet computers. We want to know if screen brightness is...
-
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?
-
A large hospital required nurses to work 80 hours over two-week (14 day) pay periods. In addition, nurses were also considered to be "on-call" for an additional 20 hours during the pay period. While...
-
Describe the history of the HIPAA, explaining why it is essential. Consider the following questions in your response: Why is understanding the history of the HIPAA law essential in decision making...
-
"I'm not sure we should lay out $265,000 for that automated welding machine," said Jim Alder, president of the Superior Equipment Company. "That's a lot of money, and it would cost us $75,000 for...
Study smarter with the SolutionInn App