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In auditing, the risk of assessing control risk too low is ordinarily considered a greater risk than the risk of assessing control risk too high.
In auditing, the risk of assessing control risk too low is ordinarily considered a greater risk than the risk of assessing control risk
too high.
True or False
An auditor who uses nonstatistical attributes sampling, and has chosen the sample in conformity with random selection
procedures:
Multiple Choice
Need not consider the risk of assessing control risk too low.
Has committed a nonsampling error.
Will have to use discovery sampling techniques to evaluate the results.
Should compare the deviation rate of the sample to the tolerable rate.
An auditor who uses nonstatistical attributes sampling, and has chosen the sample in conformity with random selection
procedures:
Multiple Choice
Need not consider the risk of assessing control risk too low.
Has committed a nonsampling error.
Will have to use discovery sampling techniques to evaluate the results.
Should compare the deviation rate of the sample to the tolerable rate.
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Advanced Financial Accounting
Authors: Theodore Christensen, David Cottrell, Cassy Budd
13th Edition
1260772136, 9781260772135
