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- 6. Which of the following is NOT an advantage of using sensitivity analysis? A It identifies the impact a change in an estimate would have on the result B It gives an idea of the worst possible outcome C It shows where further investigation might be useful D It provides useful information for decision makingWhich one of the following is the main problem with using non-probability sampling technique? a. The expense b. The results are never representative c. Human judgement error d. Non co-operation of informants FAST PLIZWhat is the test statistics and critical values. I got 4.20 for the test statistic, but it says its incorrect.
- Which one of the sentences below is FALSE? A. The risk of incorrect acceptance called beta risk has the consequence that the auditor may assume that the population is free of material misstatement. B. The risk of incorrect rejection is called alpha risk and has the consequence that the auditor may assume on the basis of sample results that a population is materially misstated when, in fact, it is not . C. The risk of incorrect acceptance is called beta risk. D. The risk of incorrect rejection very common in audit sampling is called beta risk.68 Which of the following factors is generally not considered in determining the sample size for a test of controls? Group of answer choices Expected population deviation rate Population size Tolerable rate Risk of assessing control risk too lowIndicate whether the following sentences are true or false: (T/F)11.Some of the points may be observed by a researcher in selecting a research problem are: Subject which is overdone should not be normally chosen, for it will be a difficult task to throw any new light in such a case and controversial subject should not become the choice of an average researcher
- I use the correct fomular, but I don't know why the standard deviation is incorrect.Which of the following statements is correct about monetary unit sampling?a. The risk of incorrect acceptance must be specified.b. Smaller logical units have a higher probability of selection in the sample than larger units.c. Each logical unit in the population has an equally likely chance of being selected in the sample.d. The projected misstatement cannot be calculated when one or more misstatements are discovered.the standard deviation for part c are all wrong. could you please check it again?
- I need help with this question I can get the first part, but I cannot get the correct standard deviation.Auditors must be aware of sampling risks because: A The risk of type 2 error due to increased sampling might be avoided by increasing tests of controlsB The risk of a type 2 error is that decreased sampling might be avoided by increasing the materiality thresholdC The risk of a type 1 error due to decreased sampling might be avoided by reducing the substantive testsD The risk of a type 2 error is that a decreased sample might have a greater impact on audit costsE The risk with a type 1 error is that increased sampling will not have a greater impact on the auditor's opinionStatistical sampling cannot be used to test all controlactivities. TRUE OR FALSE? WHY?
