Question: Select from the option list provided the sampling method that best fits each sampling explanation. Each choice may be used once, more than once, or
Select from the option list provided the sampling method that best fits each sampling explanation. Each choice may be used once, more than once, or not at all.
Sampling explanation
Sampling method
The larger the item in the population, the more likely it will be included in the sample.
Replaces the need for the use of judgment by the auditor.
Uses the average amount of sampled items to estimate the amount of the population.
Uses results from a portion of the population to draw an inference about the total population.
Allows the auditor to measure and control the risk of accepting a materially misstated balance.
Requires the auditor to estimate the population standard deviation to determine the appropriate sample size.
Is are equally useful for selecting samples and drawing inferences about asset and liability balances.
Eliminates the need for the auditor to consider materiality.
Automatically stratifyies the population during sample selection.
Requires documentation of results in the working papers.
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