Reference no: EM132137221
Below are descriptions of how key parameters are determined in a monetary unit sampling application. Indicate, using the correct letter, which parameter is most closely associated with the description. Each parameter is associated with only one description.
A) Tainting percentage.
B) Sample size.
C) Actual misstatement.
D) Population size.
E) Expected misstatement.
F) Tolerable misstatement.
Estimated based on prior audits or a pilot sample of current balances.
Determined based on the recorded amount of the account balance or class of transactions.
Determined based on tolerable misstatement, expected misstatement, and the risk of incorrect acceptance.
Determined judgmentally by the auditor based on the overall financial statement materiality.
Calculated by dividing the recorded balance by the amount of actual misstatement detected.
Calculated as the difference between the recorded balance and the audited value of a logical unit comprising an account balance or class of transactions.
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Estimating expected misstatement and tolerable misstatement
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Sourcing agent play in analyzing international markets
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How many units can this system produce in one year
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Political issues in international marketing such as risk
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Determined tolerable misstatement-expected misstatement
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Determined the tolerable rate of deviation
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Maintaining healthy level of professional skepticism
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