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practice exam 2 - Select the BEST answer to each question...

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Select the  BEST  answer to each question from those given.  Each Problem is worth 4 points. 1. The risk that the projected sample results and the true conditions will differ is: A) nonsampling risk. B) sampling risk. C) inherent risk. D) detection risk. Answer B. 2. Which method of evaluating sampling risk have a different sampling risk when using a fixed sampling plan versus a sequential sampling plan? Answer A. 3. In an attributes sample for controls where the ENE is less than the MUNE, which of the following will increase sample size?
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Answer C. 4. Statistical sampling provides a technique for Answer D. 5. In evaluating a sample for testing attributes using a Bayesian approach with a uniform prior which statement is true: A) For fixed sample sizes the risk calculated will always be slightly less than the risk calculated using the classical method. B) When calculating the sampling risk it makes no difference if a sequential or a fixed sampling plan is used. C) Both A and B are true D) Neither A nor B is true. Answer C. 6. For which of the following audit tests would an auditor most likely use attribute sampling?
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