Which of the following best describes the distinguishing feature of statistical sampling?
A) It requires the examination of a smaller number of supporting documents.
B) It provides a means for measuring mathematically the degree of uncertainty that results from examining only part of a population.
C) It reduces the problems associated with the auditor's judgment concerning materiality.
D) It is evaluated in terms of two parameters: statistical mean and random selection.

Question

Quizplus · Accepted Answer

The key distinguishing feature of statistical sampling is that it provides a means for measuring mathematically the degree of uncertainty that results from examining only part of a population. This allows auditors to draw conclusions about the entire population with a level of confidence and precision, based on the results of examining a sample. The other answer choices are not accurate descriptions of the distinguishing feature of statistical sampling.

Which of the Following Best Describes the Distinguishing Feature of Statistical