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Match Six of the Terms (A-L)with the Definitions Provided Below

Question 114

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Match six of the terms (a-l)with the definitions provided below (1-6):

Premises:
Sampling techniques for tests of details that use the statistical inference processes.
A statistical sampling method that provides upper and lower misstatement bounds expressed in monetary amounts.
The risk that the auditor is willing to take of concluding a balance is materially misstated when it is fairly stated.
Conclusions drawn from sample results based on knowledge of sampling distributions.
The risk that the auditor is willing to take of accepting a balance as correct when the true misstatement in the balance is greater than tolerable misstatement.
A method of variables sampling in which the auditor estimates the population misstatement by multiplying the average misstatement in the sample by the total number of population items and also calculates sampling risk.
Responses:
Statistical inferences
Acceptable risk of incorrect rejection
Ratio estimation
Stratified sampling
Acceptable risk of incorrect acceptance
Difference estimation
Variable sampling
Mean-per-unit estimation
Monetary unit sampling
Probability proportional to size sample selection
Point estimate
Misstatement bounds

Correct Answer:

Statistical inferences
Acceptable risk of incorrect rejection
Ratio estimation
Stratified sampling
Acceptable risk of incorrect acceptance
Difference estimation
Variable sampling
Mean-per-unit estimation
Monetary unit sampling
Probability proportional to size sample selection
Point estimate
Misstatement bounds
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