When errors are found in a sample, auditors in practice generally assume

(3pts)

Question 5 - When errors are found in a sample, auditors in practice generally assume

	that the population errors are larger than the sample errors.
	that the population errors are smaller than the sample errors.
	that the population errors cannot be determined.
	that the actual sample errors are representative of the population errors.

If the auditor finds extensive control test deviations and significant misstatements while performing substantive tests of transactions and substantive analytical procedures,

(3pts)

Question 10 - If the auditor finds extensive control test deviations and significant misstatements while performing substantive tests of transactions and substantive analytical procedures,

	the cost of the audit should decrease.
	the auditor will conclude that internal controls are effective.
	extensive tests of details of balances will need to be performed.
	All of the above

Presentation and disclosure objectives are primarily addressed in the tests of details of balances phase of the audit.

Question 6 - Presentation and disclosure objectives are primarily addressed in the tests of details of balances phase of the audit.True/False

If the auditor finds extensive control test deviations and significant misstatements while performing substantive tests of transactions and substantive analytical procedures,

(3pts)

Question 10 - If the auditor finds extensive control test deviations and significant misstatements while performing substantive tests of transactions and substantive analytical procedures,

	the cost of the audit should decrease.
	the auditor will conclude that internal controls are effective.
	extensive tests of details of balances will need to be performed.
	All of the above