Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN: 9781337619455
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: Cengage Learning
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Question
Chapter 8, Problem 29CYBK
To determine
Introduction: Monitoring Unit Sampling (MUS) is a statistical sampling method which is used to find out the existence of any material misstatement in the financial statements of the client for a given population.
To choose:Whether the statement is True of False.
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Students have asked these similar questions
Suppose you're given a data set that classifies each sample unit into one of four categories: A, B, C,
the data as A = 1, B=2, C = 3, and D=4. Are the data consisting of the classifications A, B, C, and D
or quantitative?
Are the data consisting of the classifications A, B, C, and D qualitiative or quantitative?
OA. Qualitative, because they are measured on a naturally occuring numerical scale.
B. Quantitative, because they are measured on a naturally occuring numerical scale.
C. Quantitative, because they can only be classified into categories.
D. Qualitative, because they can only be classified into categories.
***
After the data are input as 1, 2, 3, or 4, are they qualitative or quantitative?
OA. Qualitative, because they cannot be meaningfully added, subtracted, multiplied, or divided.
B. Qualitative, because they are measured on a naturally occurring numerical scale.
OC. Quantitative, because they are measured on a naturally occurring numerical scale.
OD. Quantitative, because…
Create a sample problem of an External Rate of Return.
1. Which of the following would be designed to estimate a numerical measurement of a population, such as monetary value?*
A. Sampling for variables
B. Sampling for attributes
C. Sequential sampling
D. Discovery sampling
E. None of them
Chapter 8 Solutions
Auditing: A Risk Based-Approach (MindTap Course List)
Ch. 8 - Prob. 1CYBKCh. 8 - Prob. 2CYBKCh. 8 - Prob. 3CYBKCh. 8 - Prob. 4CYBKCh. 8 - Prob. 5CYBKCh. 8 - Prob. 6CYBKCh. 8 - Prob. 7CYBKCh. 8 - Prob. 8CYBKCh. 8 - Prob. 9CYBKCh. 8 - Prob. 10CYBK
Ch. 8 - Prob. 11CYBKCh. 8 - Prob. 12CYBKCh. 8 - Prob. 13CYBKCh. 8 - Prob. 14CYBKCh. 8 - Prob. 15CYBKCh. 8 - Prob. 16CYBKCh. 8 - Prob. 17CYBKCh. 8 - Prob. 18CYBKCh. 8 - Refer to Exhibit 8.6. Assume a 5% risk of...Ch. 8 - Prob. 21CYBKCh. 8 - Prob. 22CYBKCh. 8 - Prob. 23CYBKCh. 8 - Prob. 24CYBKCh. 8 - Prob. 25CYBKCh. 8 - Prob. 26CYBKCh. 8 - Prob. 27CYBKCh. 8 - Prob. 28CYBKCh. 8 - Prob. 29CYBKCh. 8 - Prob. 30CYBKCh. 8 - Prob. 31CYBKCh. 8 - Prob. 32CYBKCh. 8 - Prob. 33CYBKCh. 8 - Prob. 34CYBKCh. 8 - Prob. 35CYBKCh. 8 - Prob. 36CYBKCh. 8 - Prob. 37CYBKCh. 8 - Prob. 38CYBKCh. 8 - Prob. 39CYBKCh. 8 - Prob. 1RQSCCh. 8 - Prob. 3RQSCCh. 8 - Prob. 4RQSCCh. 8 - Prob. 5RQSCCh. 8 - Prob. 6RQSCCh. 8 - Prob. 7RQSCCh. 8 - Prob. 8RQSCCh. 8 - Prob. 9RQSCCh. 8 - Prob. 10RQSCCh. 8 - Prob. 11RQSCCh. 8 - Prob. 12RQSCCh. 8 - Prob. 13RQSCCh. 8 - Prob. 14RQSCCh. 8 - Prob. 15RQSCCh. 8 - Prob. 16RQSCCh. 8 - Prob. 17RQSCCh. 8 - Prob. 18RQSCCh. 8 - Prob. 19RQSCCh. 8 - What is stratification? Distinguish between...Ch. 8 - Prob. 21RQSCCh. 8 - Prob. 22RQSCCh. 8 - Prob. 23RQSCCh. 8 - Prob. 24RQSCCh. 8 - Prob. 25RQSCCh. 8 - Prob. 26RQSCCh. 8 - Prob. 27RQSCCh. 8 - Prob. 28RQSCCh. 8 - Prob. 29RQSCCh. 8 - Prob. 30RQSCCh. 8 - Prob. 31RQSCCh. 8 - Prob. 32RQSCCh. 8 - Prob. 33RQSCCh. 8 - Prob. 36RQSCCh. 8 - Prob. 37RQSC
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Similar questions
- Construct a sample problem of External Rate of Return (ERR).arrow_forwardCreate an (unadjusted) trial balance for this. Need see sample like Solutions need just see sample example okarrow_forwardSummarize the concept behind monetary-unit sampling (MUS). How does MUS use attribute-sampling theory?arrow_forward
- Explain the following audit sample selection 1. Random selection 2. Systematic selection 3. Monetary unit sampling 4. Haphazard selection 5. Block selection 6. Attribute samplingarrow_forwardMake an Internal Rate of Return sample problem with a diagram and solution.arrow_forwardUnderstand how various factors influencethe size of an attributes sample and how todetermine the sample size for an attributessampling application.arrow_forward
- Experimental outcomes that are based on measurement scales such as time, weight, and distance can be described by _____ random variables. a. uniform b. discrete c. continuous d. intermittentarrow_forwardWhen the auditor goes through a population and selects items for the sample without regard to their size, source, or other distinguishing characteristics, it is called Block selection\ Haphazard selection Random selection Systematic selectionarrow_forwardThe ________ is used to compare thevariability of two or more data sets with different scales. coefficient of variation variance median coefficient of skewnessarrow_forward
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