a. Attributes Sampling nonstatistical Stratificatio Samplin Allowanc e for sampling ri signed & liquid assets h safe Company compensatio n balance deposit box 11. Inherent in the use of sampling is risk which is the possibility of selecting a sample that is not representative of the population 12. When the auditors estimated sampling risk using professional judgement rather than by using the laws of probability, they are said to be using sampling 13. The term _refers to the process of dividing a population into relatively homogeneous subgroups. 14. Test of controls typically use plans 15. Adding and subtracting the to and from the projected misstatement creates an interval within which the true value of the population is likely to le 16. Checks in payment of a company's payables should be prepared by one person and by another 17. If a client's financial investments are maintained in a should be under the joint control of two or more officials 18. Financial investments should be registered in the name of the 19. The count of securities on hand by the auditors should be made concurrently with the count of other 20. A is a required minimum account balance that may be required by a bank when making a loan to a customer. Collections a. Collection agency b. Aged trial balance Related party receivables f Credit department Positive Billing department Shipping documents Assume the balance is correct 21. Before goods are shipped on open account, the sale should be approved by the 22. A is a shipping document that is prepared for goods shipped by a common carrier, 23. Receivables written off are often turned over to a 24. The should account for the serially numbered shipping documents to ensure that invoice is prepared for all shipments 25. An of customers' accounts receivable should be prepared at regular intervals for use by the credit department in carrying out its collection program 26. A test of the completeness of recorded sales involves tracing a sample of all to recorded sales 27.A_ confirmation request asks the debtor to respond in all cases 28. If a response to a negative confirmation request is not received the auditors ordinarily 29. The best evidence of collectability of accounts receivable is examination of subsequent the accounts 30. Loans by a company to its officers, directors, major stockholders, or affiliates require particular attention because these are not the results of arm's length bargaining by independent parties