Question 1

The auditor has decided to audit all accounts receivable amounts that are over 120 days old and over $5000. What type of sample selection method is the auditor using?

Accepted Answer

A)   haphazard
B)   systematic
C)   directed
D)   blockE) All of the above
F) None of the above

Question 2

The auditor is going to select a sample that is a statistical probabilistic method of sample evaluation that results in an estimate of the proportion of items in a population containing a characteristic or attribute of interest. The auditor is using what type of sampling?

Accepted Answer

A)   attribute sampling
B)   discovery sampling
C)   monetary unit sampling
D)   variable estimation samplingE) A) and B)
F) C) and D)

Question 3

When does the auditor use simple random sampling?

Accepted Answer

A)   when the auditor has a particular judgmental criteria that is used to select the sample
B)   where the auditor wants numbers in sequence and would like to select the sample rapidly
C)   for testing of cutoff after the year end with respect to accounts payable
D)   for populations where each item is considered to have the same characteristics for audit purposesE) B) and C)
F) A) and C)

Question 4

Which of the following best describes what the auditor means by the exception rate in the attribute sampling plan? The

Accepted Answer

A)   number of errors that can reasonably be expected to be found in a population.
B)   frequency with which a certain characteristic occurs within a population.
C)   degree of confidence that the sample is representative of the population.
D)   dollar range within which the true population total can be expected to fall.E) A) and D)
F) All of the above

Question 5

A common use of block testing is testing

Accepted Answer

A)   cutoff.
B)   existence.
C)   authorization.
D)   valuation.E) C) and D)
F) A) and C)

Question 6

A) Describe three types of sample selection methods commonly associated with statistical audit sampling.
B) Explain the difference between sampling with replacement and without replacement. Which method is more common in audit practice?
C) Describe the steps involved in systematic sampling.

Accepted Answer

A)Three types of sample selection method...

Question 7

As part of the audit program for the audit of sales, the auditor will "review sales transactions for large and unusual amounts." Which of the following types of sampling would be suitable for this audit procedure?

Accepted Answer

A)   systematic
B)   attribute
C)   block
D)   directedE) A) and D)
F) A) and B)

Exam 11: Audit Sampling Concepts

A common use of block testing is testing

Correct Answer
verified

A) Describe three types of sample selection methods commonly associated with statistical audit sampling. B) Explain the difference between sampling with replacement and without replacement. Which method is more common in audit practice? C) Describe the steps involved in systematic sampling.

Correct Answer
verified
A)Three types of sample selection method...
View Answer

The auditor is going to select a sample that is a statistical probabilistic method of sample evaluation that results in an estimate of the proportion of items in a population containing a characteristic or attribute of interest. The auditor is using what type of sampling?

Correct Answer
verified

When does the auditor use simple random sampling?

Correct Answer
verified

The auditor has decided to audit all accounts receivable amounts that are over 120 days old and over $5000. What type of sample selection method is the auditor using?

Correct Answer
verified

As part of the audit program for the audit of sales, the auditor will "review sales transactions for large and unusual amounts." Which of the following types of sampling would be suitable for this audit procedure?

Correct Answer
verified

Which of the following best describes what the auditor means by the exception rate in the attribute sampling plan? The

Correct Answer
verified

Exam 11: Audit Sampling Concepts

A common use of block testing is testing

Correct AnswerverifiedShow Answer

A) Describe three types of sample selection methods commonly associated with statistical audit sampling. B) Explain the difference between sampling with replacement and without replacement. Which method is more common in audit practice? C) Describe the steps involved in systematic sampling.

Correct AnswerverifiedA)Three types of sample selection method...View AnswerShow Answer

The auditor is going to select a sample that is a statistical probabilistic method of sample evaluation that results in an estimate of the proportion of items in a population containing a characteristic or attribute of interest. The auditor is using what type of sampling?

Correct AnswerverifiedShow Answer

When does the auditor use simple random sampling?

Correct AnswerverifiedShow Answer

The auditor has decided to audit all accounts receivable amounts that are over 120 days old and over $5000. What type of sample selection method is the auditor using?

Correct AnswerverifiedShow Answer

As part of the audit program for the audit of sales, the auditor will "review sales transactions for large and unusual amounts." Which of the following types of sampling would be suitable for this audit procedure?

Correct AnswerverifiedShow Answer

Which of the following best describes what the auditor means by the exception rate in the attribute sampling plan? The

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
A)Three types of sample selection method...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified