Which statistical sampling allows an auditor to generalize and make inferences from the sample to the population?
a. Probability sampling
b. Random sampling
c. Discovery sampling
d. Quota sampling
c
FEEDBACK: a. Incorrect.
b. Incorrect.
c. Correct.
d. Incorrect.
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If the sum of the debits and credits in a trial balance is not equal, then
a. there is no concern because the two amounts are not meant to be equal. b. the chart of accounts also does not balance. c. it is safe to proceed with the preparation of financial statements. d. most likely an error was made in posting journal entries to the general ledger or in preparing the trial balance.
The account which records the difference between the cash needed for replenishment and amount of receipts is called:
A) Petty Cash. B) Cash Over and Short. C) Cash Equivalents. D) Discrepancy Expense.
Community-oriented programs may bring additional economic benefits by improving the company’s standing with important constituencies such as ______.
a. students b. politicians c. government officials d. police officers
Changing a trademark is forgery.
Answer the following statement true (T) or false (F)