Question: TRUE FALSE QUESTIONS 1 In attributes sampling the attribute of interest

1. In attributes sampling, the attribute of interest is an individual dollar amount in the population.
2. Factual misstatements are those that are the auditor's best estimate of misstatements in a given population based on sample results.
3. The division of a population into two or more subgroups is referred to as stratification.
4. One strength of MUS is that it automatically selects a sample in proportion to an item's dollar amount, thus providing automatic stratification of the sample.
5. MUS is most often used in situations in which the auditor expects a significant number of large understatements in recorded balances.
6. GAS would be useful for completing the following tasks: footing a file, doing arithmetic calculations, checking for gaps in processing sequences, and printing confirmations.
7. GAS would be useful in testing the completeness assertion by helping the auditor select data to perform sales cutoff tests around year end.

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  • CreatedSeptember 22, 2014
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