Which of the following statements regarding statistical sampling is ?
A)it involves haphazard selection
B)it is generally used for low risk accounts
C)it is easier to use than non-statistical sampling
D)it involves random selection

Question

Quizplus · Accepted Answer

Statistical sampling involves random selection, not haphazard selection. It may be used for low, moderate, or high risk accounts depending on the auditor's judgment. Although statistical sampling requires more planning and data analysis than non-statistical sampling, it is considered a more objective and reliable method.

Which of the Following Statements Regarding Statistical Sampling Is