$(3)$ Conves

$50$:$32$

rime Remalining

Section $1$: Multiple Choice Questions

Instructions: This section contains $18$ multiple choice questions. Select the best answer for each question. Only one question will appear or question before moving forward. NOTE: You cannot return to a question once you proceed forward.

$1\mathrm{.}75$ points

An advantage of statistical sampling over nonstatistical sampling is that statistical sampling assists with:

Reducing the level of audit risk and materiality to a relatively low amount.

Minimizing the failure to detect fraud and error.

Measuring the potential misstatement based on the evidence obtained.

Eliminating nonsampling risk.

All of these statements are true of statistical sampling.

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