Classical variables sampling is best described as:
A)A sampling method that uses normal distribution theory to select a sample and evaluate the characteristics of a population based on the results of a sample drawn from the population.
B)A non-statistical sampling technique
C)A procedure conducted by the internal auditors only
D)A sampling technique only applied to receivables

Question

Quizplus · Accepted Answer

Classical variables sampling is a statistical sampling technique used to estimate the characteristics of a population based on the results of a sample drawn from the population. This method uses normal distribution theory to select a sample and evaluate the characteristics of the population. It can be applied to various types of data, including receivables, inventory, and expenses. It is a commonly used technique in auditing and is conducted by both internal and external auditors.

Classical Variables Sampling Is Best Described As