Question: #11 Explain the difference between the two types of sampling risk for substantive procedures: the risk of incorrect acceptance and the risk of incorrect rejection.

#11 Explain the difference between the two types of sampling risk

#11

Explain the difference between the two types of sampling risk for substantive procedures: the risk of incorrect acceptance and the risk of incorrect rejection. What are the errors' different implications for the audit? Which is the more serious risk? Explain

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