Monetary unit sampling (MUS) has all of the following advantages over other statistical methods except which?
A) It is easier to apply than other statistical sampling approaches.
B) It is developed especially for use in auditing.
C) The sample size is influenced by the standard failure of the population.
D) Usually results in a highly efficient sample size.

Question

Quizplus · Accepted Answer

Monetary Unit Sampling (MUS) is a method where the sample size is influenced by the population's variability (measured by variance or standard deviation) but not specifically by its "standard failure." Instead, factors like the desired confidence level, tolerable error, and expected misstatement levels primarily determine the sample size in MUS. This makes option C incorrect as it inaccurately describes how MUS operates regarding the population's standard failure.

Monetary Unit Sampling (MUS) Has All of the Following Advantages