MCQ for CA Intermediate Audit - Chapter 7 - Audit Sampling
Sample Multiple Choice Questions (MCQ's) for CA Intermediate - Paper 6 - Auditing and Assurance - Chapter 7: Audit Sampling - For Practice relevant for May/November 23 Examinations
Q:1 Which of the following is source of Non-Sampling risk?
- Human Mistakes
- Applying audit procedures not appropriate to the objectives of audit
- Misinterpreting the sample results
- All of the above
Answer: 4
Q:2 Value-weighted selection in which sample size, selection and evaluation results in a conclusion in monetary amounts, is known as:
- Haphazard sampling
- Monetary Unit Sampling
- Stratified Sampling
- Interval sampling
Answer: 2
Q: 3 Which of the following is false?
- Audit sampling can be applied using either non-statistical or statistical sampling approaches.
- The level of sampling risk that the auditor is willing to accept affects the sample size required
- Example of sampling risk include use of inappropriate audit procedures or misinterpretation of audit evidence and failure to recognise a misstatement.
- All of the above
Answer: 3
Q:4 Which among the following will have negligible effect on determination of sample size in case of tests of details?
- The number of sampling units in the population
- Stratification of the population when appropriate
- An increase in the auditor's desired level of assurance that tolerable misstatement is not exceeded by actual misstatement in the population
- An increase in the use of other substantive procedures directed at the same assertion
Answer: 1
Q:5 Which of the following factors is (are) considered in determining the sample size for tests of control?
- Projected error
- Tolerable error
- Expected error
- Both (b) and (c)
Answer: 4
CA Intermediate AUDIT - MCQ for Chapter 8 -
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