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Individual Assignment Chapter 17 - Audit Sampling For Tests of Details of Balances Multiple Choice Questions From CPA and CIA Examinations

This document contains multiple choice questions from CPA and CIA examinations related to audit sampling for tests of details of balances. The questions cover topics such as emphasizing larger items from a population, expected amount of misstatements and measures of tolerable misstatement, factors that impact sample size decisions, types of sampling risk, calculating monetary population values within a range, and considerations for including zero or negative balances in a sample.

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Unazukin Och
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117 views1 page

Individual Assignment Chapter 17 - Audit Sampling For Tests of Details of Balances Multiple Choice Questions From CPA and CIA Examinations

This document contains multiple choice questions from CPA and CIA examinations related to audit sampling for tests of details of balances. The questions cover topics such as emphasizing larger items from a population, expected amount of misstatements and measures of tolerable misstatement, factors that impact sample size decisions, types of sampling risk, calculating monetary population values within a range, and considerations for including zero or negative balances in a sample.

Uploaded by

Unazukin Och
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Individual Assignment Chapter 17 – Audit Sampling for Tests of Details of Balances

Multiple Choice Questions from CPA and CIA Examinations:


17-19 a. (4) Allow the auditor to emphasise larger items from the population
b. (2) Expected Amount of Misstatements (Yes), Measure of Tolerable Misstatement
(Yes)
c. (3) Decrease sample size (Increase in tolerable mistatement), Increase sample size
(Increase in assessed level of Control Risk)

17-20 a. (3) Incorrect rejection


b. (2) $2,000
c. (4) accept the $175,000 balance because the confidence interval is within the
materiality limits

17-21 a. (4) Has a probability proportional to its dollar value of being selected
b. (3) Inclusion of zero and negative balances generally does not require special
design considerations
c. (4) Predict a monetary population value within a range of precision

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