If the total projected error in an account balance was $3 248 and the tolerable error was set at $10 000,the auditor would:
A) decide that further audit work was required
B) conclude that the errors detected are not material
C) conclude that the errors uncovered are material
D) conduct other tests aimed at the assertion being tested
Correct Answer:
Verified
Q34: Random selection involves:
A)the selection of a sample
Q35: When testing controls,the tolerable error is:
A)the minimum
Q36: When testing controls,a decrease in the sample
Q37: What impact will there be on sample
Q38: When testing controls,sampling risk is the risk
Q40: Non statistical sampling is easier to use
Q41: When conducting detailed substantive procedures,auditors search for
Q42: Substantive audit procedures include:
A)analytical procedures
B)detailed tests of
Q43: For high-risk accounts,the timing of most audit
Q44: When control risk is high the audit
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