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Based on a 5% risk of assessing control risk too low, how would an auditor interpret a computed upper deviation rate of 7%? A) The
Based on a 5% risk of assessing control risk too low, how would an auditor interpret a computed upper deviation rate of 7%? A) The auditor is willing to accept a deviation rate of 7% before deciding not to rely on the control. B) There is a 5% chance that the deviation rate in the population is less than 7%. C) There is a 5% chance that the deviation rate in the population exceeds 7%. D) There is a 95% chance that the deviation rate in the population equals 7%. What is the correct answer? Why is it the correct answer? Why are the other choices incorrect
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