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MULTIPLE CHOICE:
1.
2.
3.
4.
160
ANSWER:
5.
7.
6.
161
162
ANSWER:
8.
9.
11.
10.
Tolerable error.
Expected error.
Allowable risk of incorrect acceptance.
Characteristics of the population.
ANSWER:
12.
In a
will
95%?
a.
b.
c.
d.
ANSWER:
15.
14.
Sample size
a.
Increases with the use
b.
Decreases with the use
c.
Remains unchanged with
d.
Increases with the use
ANSWER:
13.
163
164
16.
17.
18.
19.
ANSWER:
20.
22.
21.
165
166
23.
24.
25.
27.
26.
ANSWER:
28.
30.
29.
167
168
31.
32.
33.
34.
35.
36.
38.
37.
169
170
39.
40.
ANSWER:
41.
42.
ANSWER:
43.
171
COMPLETION:
44.
45.
46.
ALPHA
48.
BETA RISK
47.
DIFFERENCE ESTIMATION
SMALLER
172
49.
53.
52.
INCREMENTAL ALLOWANCE
51.
GREATER
50.
(greater or less)
OVERSTATEMENT
LESS
MATCHING:
54.
Projected error
Achieved precision
Basic precision
Desired precision
Finite correction factor
173
Range of acceptability
Sampling risk
Standard deviation
Upper error limit
Reliability
Sampling interval
Precision
Logical sampling unit
____1.
____2.
____3.
The range within which the true answer most likely falls.
____4.
____5.
____6.
____7.
____8.
____9.
H
I
M
K
E
B
F
N
L
A
PROBLEM/ESSAY:
174
ALPHA/2
OR BETA
1.00%
2.00
2.50
5.00
10.00
20.0
24.0
b.
c.
d.
Z VALUE
2.33
2.06
1.96
1.65
1.29
.85
.71
SOLUTION:
a.
b.
c.
d.
35
$4,800,000
$24,539
Downward adjustment of $1,184,4539
175
OVERSTATEMENT
ERRORS
0
1
2
3
RELIABILITY FACTOR
3.00
4.75
6.30
7.76
b.
c.
EXPANSION FACTOR
1.60
d.
Book Value
$20,000
$800,000
$220,000
Audited Value
0
$400,000
0
SOLUTION:
a.
b.
c.
d.
618
$22,653
$642,653
Allowance for sampling risk = $84,949 ($67,959 + $16,990)
Upper error limit = $727,602 ($642,653 + $84,949)