What is risk of incorrect acceptance? A.The risk that the auditor concludes that a material misstatement exists when it does not exist. B.The risk that the auditor concludes that a material misstatement does not exist when it actually does not. C.The risk that the auditor concludes that a material misstatement does not exist when it does exist. D.The risk that the auditor concludes that a material misstatement exists when it actually does.

The risk of incorrect acceptance is referred to a situation in which the results of an audit sample…

Answered: What is risk of incorrect acceptance?…

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter8: Specialized Audit Tools: Attributes Sampling, Monetary Unit Sampling, And Data Analytics Tools

Section: Chapter Questions

Problem 6CYBK

See similar textbooks

What is risk of incorrect acceptance?

	A.	The risk that the auditor concludes that a material misstatement exists when it does not exist.
	B.	The risk that the auditor concludes that a material misstatement does not exist when it actually does not.
	C.	The risk that the auditor concludes that a material misstatement does not exist when it does exist.
	D.	The risk that the auditor concludes that a material misstatement exists when it actually does.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Recommended textbooks for you

Auditing: A Risk Based-Approach (MindTap Course L…

Accounting

ISBN:

9781337619455

Author:

Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:

Cengage Learning