Question: Which of the following is the risk that audit tests will not uncover existing exceptions in a sample? Question content area bottom Part 1 A

Which of the following is the risk that audit tests will not uncover existing exceptions in a sample?
Question content area bottom
Part 1
A.
audit risk
B.
sampling risk
C.
detection risk
D.
nonsampling risk

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

I wanted to know if anyone can help with this writing assignment for auditing class MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question (2 points...

Q:

Complete parts (a) through (c) below. (a) Determine the critical value(s) for a right-tailed test of a population mean at the =0.05 level of significance with 10 degrees of freedom. (b) Determine the...

Q:

The following are three situations, all involving nonpublic companies, in which the auditor is required to develop an audit strategy: LOADING... (Click the icon to view the three situations.) Read...

Q:

The following are three situations, all involving nonpublic companies, in which the auditor is required to develop an audit strategy: LOADING... (Click the icon to view the three situations.) Read...

Q:

You are evaluating the results of a nonstatistical sample of 85 accounts receivable confirmations for the Bohrer Company. Information on the sample and population are included below. Tolerable...

Q:

You are evaluating the results of a nonstatistical sample of 85 accounts receivable confirmations for the Bohrer Company. Information on the sample and population are included below. Tolerable...

Q:

Auditors have not been successful in measuring the components of the audit risk model. How is it possible to use the model in a meaningful way without a precise way of measuring the risk? Question...

Q:

What are the five elements of an effective professional judgment process? Question content area bottom Part 1 A . ( 1 ) Obtain the relevant facts; ( 2 ) Identify the facts and alternatives available;...

Q:

Explain why there is an inverse relationship between planned detection risk and the amount of evidence an auditor collects for a specific audit objective. Question content area bottom Part 1 A ....

Q:

Distinguish management's responsibility from the audit committee's responsibility for designing and implementing antifraud programs and controls within a company. Question content area bottom Part 1...

Q:

Identify the highlighted epithelium.

Q:

Given a list of employees, defined as employees in the cell below, write python code to perform the following: For all male employees, print the employee_id on one line and on another line print...

Q:

An electric heating system controlled by a sequencer is not heating. If the technician reads 240 volts across each contact of the sequencer and zero volts across the sequencer element, which of the...

Q:

Within the theoretical facets of affect climate, what is affect utilization? How is this linked to employee monitoring and reprimands?