In an audit sampling application, an auditora. Performs procedures on all items in a balance and makes a conclusion about the entirebalance.b. Performs procedures on less than 100 percent of the items in a balance and formulates aconclusion about the entire balance.c. Performs procedures on less than 100 percent of the items in a class of transactions tobecome familiar with the client’s accounting system.d. Performs analytical procedures on the client’s unaudited financial statements when planning the audit.
In an audit sampling application, an auditora. Performs procedures on all items in a balance and makes a conclusion about the entirebalance.b. Performs procedures on less than 100 percent of the items in a balance and formulates aconclusion about the entire balance.c. Performs procedures on less than 100 percent of the items in a class of transactions tobecome familiar with the client’s accounting system.d. Performs analytical procedures on the client’s unaudited financial statements when planning the audit.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In an audit sampling application, an auditor
a. Performs procedures on all items in a balance and makes a conclusion about the entire
balance.
b. Performs procedures on less than 100 percent of the items in a balance and formulates a
conclusion about the entire balance.
c. Performs procedures on less than 100 percent of the items in a class of transactions to
become familiar with the client’s accounting system.
d. Performs analytical procedures on the client’s unaudited financial statements when planning the audit.
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