Which of the following statements about attribute sampling is correct? A.Larger transactions have a higher chance of being selected into the sample than smaller transactions. B.The risk of over-reliance does not affect the sample size. C.Attribute sampling is often used in the test of controls. D.The haphazard selection method is often used for attribute sampling. E.If the estimated population deviation rate is higher than the tolerable deviation rate, auditors conclude the internal control is effective.

An audit can be defined as the independent examination of the financial statements by the auditor.…

Answered: Which of the following statements about…

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 12CYBK

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Which of the following statements about attribute sampling is correct?

	A.	Larger transactions have a higher chance of being selected into the sample than smaller transactions.
	B.	The risk of over-reliance does not affect the sample size.
	C.	Attribute sampling is often used in the test of controls.
	D.	The haphazard selection method is often used for attribute sampling.
	E.	If the estimated population deviation rate is higher than the tolerable deviation rate, auditors conclude the internal control is effective.

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