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1. If sales invoices are automatically calculated and posted by a company's computer system, can the auditor reduce substantive tests of transactions...

1. If sales invoices are automatically calculated and posted by a company’s computer system, can the auditor reduce substantive tests of transactions for the accuracy objective? Why?

2. Can you distinguish between the point estimate of the total misstatements and the true value of the misstatements in the population?

3. What is sampling risk? Does it apply to nonstatistical sampling? Why or why not?


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