1. Modified True/False There are 30 statements below. If they are "true", then write the word "true" in the space provided. If the statement is false, you must change the statement, so that it is becomes "true". Only half- credit will be given, if you do not correct the false statement. (30 questions, 2 points each, 60 points total). 26. The issuance of long-term debt is authorized by the bond holders. 27. Using Figure 9.4 with a risk of assessing control risk too low, assume that auditors. expect the deviation rate in the population to be 1%, and a 7% tolerable deviation rate to justify their planned assessed level of control risk related to the control. Under these assumptions, the sample size would be 156 which must contain no more than 2 control deviations. 28. Based on the questions above, instead three (3) deviations are found in the sample. Using Figure 9.5, the tolerable deviation rate would be increased to 11.5%. 29. The database administrator in the IT Dept. of a company runs and monitors central computers in accordance with standard instructions. 30. Evidence of property ownership is best obtained by reviewing construction contracts used to build the company facilities