Which of the following observations about discovery sampling is TRUE?

a. It is one of the more difficult statistical sampling variations to understand.
b. Auditors using this method can always be certain that fraud does not exist in a population of checks.
c. It allows an auditor to generalize and make inferences from the population to the sample.
d. Auditors can quantify both the risk and samples until they have sufficient evidence that fraud does not likely exist.


d

Business

You might also like to view...

Which of the following sequences of documents or records describes the proper sequence in the accounting cycle?

a. Journal, source documents, ledger, financial statements b. Source documents, journal, ledger, financial statements c. Source documents, ledger, journal, financial statements d. Ledger, source documents, journal, financial statements

Business

Define commercialization. Explain two important decisions the company must make during this stage

What will be an ideal response?

Business

The first step of the marketing planning process involves closely examining the ________

A) marketing strategies B) product development process C) marketing controls D) marketing environment E) functional plan

Business

The Affordable Care Act has a provision that expands a public assistance program designed to make health coverage available to low-income individuals by increasing the maximum amount of income that can be earned and still qualify for benefits

As a result, millions of individuals are eligible for coverage under this program. This public assistance program is called A) Medicare. B) Health Maintenance Organization. C) Health Insurance Marketplace Exchange. D) Medicaid.

Business