The unique feature of PPS sampling is that a. Sampling units are not chosen at random. b.

Question:

The unique feature of PPS sampling is that

a. Sampling units are not chosen at random.

b. A dollar unit selected in a sample is not replaced before the sample selection is completed.

c. Auditors need not worry about the risk of incorrect acceptance decision.

d. The population is defined as the number of monetary units in an account balance or class of transactions.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing And Assurance Services

ISBN: 9781266796852

9th Edition

Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau

See More Books

Question Posted: May 27, 2023 12:57 AM

See More Questions

The unique feature of monetary unit sampling is that a. Sampling units are not chosen at random. b. A dollar unit selected in a sample is not replaced before the sample selection is completed. c....
The instances below are not the only criticisms that the PCAOB had for each of these firms with respect to their application of audit sampling; reading the PCAOB inspection reports yields further...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
On July 1,the first day of their fiscal year, the City of Denver sold bonds with a face value of $10,000,000 at 102 percent par. The bonds bear annual interest at 6 percent; interest is payable...
You are a newly-hired associate auditor for Praxo & Hanks, CPAs, a professional services firm that provides financial audits, integrated audits, and tax work for a variety of private and public...
Classify each of the following transactions as increasing, decreasing, or having no effect on cash flows: a. Purchasing inventory from a supplier on account b. Purchasing office supplies and writing...
For the observation of inventories, indicate (a) when this test is required, (b) the meaning of inventory taking, and (c) the timing and extent of the test.
Recently, Ashland MultiComm Services has been criticized for its inadequate customer service in responding to questions and problems about its telephone, cable television, and Internet services....
Henna Co. produces and sells two products, Carvings and Mementos. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This...
Analysis of accounts receivable collection periods by region is most likely a part of which of the following types of ADA? a. Risk assessment procedures. b. Tests of controls. c. Substantive...
For documentation of an ADA to be considered sufficient, all the following should be recorded except? a. Who reviewed work performed within the output of the ADA. b. Who performed the work and...
An experimental drug is administered to 60 randomly selected individuals, with the number of individuals responding favorably recorded. Determine which of the following probability experiments...
Why did structured securities do so poorly during the financial crisis? Would you regard their risk attributes as having been transparent or opaque?
Describe the ways in which monetary policy works through the mortgage marketboth residential and commercial.
Calculate the expected return and risk (standard deviation of returns) on a portfolio consisting of two assets. Asset 1 has an expected return of 0.09 and a standard deviation of returns of 0.08. For...
As a first approximation, is leverage a zerosum game between debt holders and shareholders? Why do shareholders benefit from more leverage? More risk? Is there a moral hazard problem?
What is meant by commercial banks providing liquidity to the financial system, businesses, and households? What role is played by lines of credit in this process? What is a line of credit offered by...
University officials are planning to audit 1586 new appointments to estimate the proportion p who have been incorrectly processed by the payroll department. (a) How large does the sample size need to...
What is taxable income, and what is the formula for determining taxable income?
This problem requires the use of ACL software, which is included in the CD attached to the text. Information about installing and using ACL and solving this problem can be found in Appendix, pages...
The use of audit software has increased dramatically in recent years. Software is now used to fulfill administrative functions in the audit environment, document audit work, and conduct data...
What are the benefits derived from planning audits?
5. Design a synchronous sequential circuit represented by the following state diagram using explicit style Verilog code. Assume a positive-edge clock. Also assume that reset will be done when the...
In the two scenerios of victor the therapist all providers are human beings with frailties. They make mistakes. When answering the following questions, take the position that you are a professional...
Write Matlab program to sort the following numbers into two groups: the first group contains numbers greater than 100 and the second group contains numbers less than or equal 100. Evaluate and print...

The unique feature of PPS sampling is that a. Sampling units are not chosen at random. b.

Question:

Step by Step Answer:

a Incorrect Sampling units are chosen at random under pro...View the full answer

Auditing And Assurance Services

Students also viewed these Business questions