6. An auditor suspects that the invoices from a small number of vendors contain serious misstatements and therefore limits the sample to those vendors only. A major disadvantage of selecting such a specific sample of items to examine is the: a. Difficulty in obtaining sample items b. Inability to quantify the sampling error related to the total population of vendor invoices Absence of a normal distribution Tendency to sample a greater number of units c. d. While performing a substantive test of details during an audit, the auditor determined that the sample results supported the conclusion that the recorded account balance was materially misstated. It was, in fact, not materially misstated. This situation illustrates the risk of 7. a. Overreliance b. Underreliance c. Incorrect rejection . Incorrect acceptance 8. Which of the following best describes certain disadvantages of the MUS sampling method It is complex and a computer is needed to perform the calculations Misstatement rates must be high or incorrect acceptance may occur, and the misstatements special consideration). a. b. generally must be overstatements (understatement misstatements require c. Misstatemen t rates must be low or incorrect rejection may occur and the misstatements generally must be overstatements (understatement misstatements require special consideration) d. It is generally used for tests of existence and valuation of assets and liabilities. 9. An auditor is using stratified sampling to evaluate a large inventory made up of many different products. Which of the following is MOST LIKELY to be used as a way to classify inventory items into strata? a. b. c. Dollar value Number of items Turnover volume d. Storage locations