Why is appropriately defining the population so important in a sampling application?
A)To permit the appropriate number of sample items to be selected.
B)To ensure that the appropriate audit procedures can be applied to sample items.
C)To enhance the likelihood of obtaining a representative sample and meet the objective of the sampling application.
D)To reduce the likelihood of failing to identify material misstatements in an account balance or class of transactions.

Question

Quizplus · Accepted Answer

Defining the population is important in a sampling application to enhance the likelihood of obtaining a representative sample and meet the objective of the sampling application. This is because a representative sample is necessary for drawing accurate conclusions about the population, and defining the population helps to ensure that the sample adequately represents the population. Additionally, defining the population can help in determining the appropriate sample size and selecting appropriate audit procedures. While options A and D may be affected by defining the population, they do not fully capture the importance of defining the population. Option B is not necessarily true, as the appropriate audit procedures may depend on factors beyond just the definition of the population.

Why Is Appropriately Defining the Population So Important in a Sampling