Question: 1. Explain the basic processes involved in documenting revenue transactions as a part of the audit on sales. 2. What is statistical sampling? What is

1. Explain the basic processes involved in documenting revenue transactions as a part of the audit on sales.

2. What is statistical sampling? What is non-statistical sampling? Explain the strengths and weaknesses of each approach.

3. Explain non-sampling risk. Give an example and explain how it relates to auditing.

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