Audit Sampling Quiz

Audit Sampling Quiz

1st Grade

10 Qs

quiz-placeholder

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Audit Sampling Quiz

Audit Sampling Quiz

Assessment

Quiz

Other

1st Grade

Practice Problem

Medium

Created by

fatimah shuib

Used 2+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is audit sampling?

Selecting all items in a population

Selecting some items from a population

Ignoring the population

Counting items without selection

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does ISA530 explain about audit sampling?

It is not related to auditing

It requires 100% of items

It allows selection of less than 100% of items

It is only for large populations

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is NOT a sampling method mentioned in ISA530?

Haphazard selection

Random selection

Systematic selection

Randomized control

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is sampling risk?

Risk of auditing every item

Risk of selecting too many items

Risk of incorrect conclusions from a sample

Risk of not auditing at all

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a test of controls?

To evaluate external factors

To count all transactions

To check the effectiveness of internal controls

To ignore internal controls

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What should auditors compare their findings to?

The auditor's guess

The tolerable deviation rate

The total population

The client's opinion

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a non-sampling approach?

Selecting some items

Examining every unit in the population

Ignoring all items

Sampling randomly

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