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 particularly effective for testing the overstatement of account balances (e.g., accuracy and existence) but is not well-suited for identifying understatements, which relates to the completeness objective.

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