Statistical sampling is less commonly used for the audit of accounts payable than for accounts receivable because it is more difficult to:
A) define the population.
B) determine the tolerable exception rate.
C) decide on attributes or variables sampling.
D) mathematically calculate and interpret the results.

Question

Quizplus · Accepted Answer

Accounts payable often involve a more complex and varied set of transactions, making it harder to define a clear population for sampling compared to accounts receivable.

Statistical Sampling Is Less Commonly Used for the Audit of Accounts