Which balance-related audit objective cannot be assessed using monetary unit sampling?
A)Accuracy
B)Completeness
C)Existence
D)All of the above can be assessed using monetary unit sampling.

Question

Quizplus · Accepted Answer

Monetary unit sampling is effective for testing existence and accuracy because it focuses on larger dollar amounts, but it is not effective for completeness as it may not select smaller or missing items.

Which Balance-Related Audit Objective Cannot Be Assessed Using Monetary Unit