Sample results for a test of transactions
Not what you're looking for?
While performing a substantive test of details during an audit, the auditor determined that the sample results supported the conclusion that the recorded account balance was materially misstated. It was, in fact, not materially misstated. The situation illustrates the risk of
A) Incorrect rejection.
B) Incorrect acceptance.
C) Assessing control risk too high.
D) Assessing control risk too low.
Purchase this Solution
Solution Summary
The solution explains about incorrect rejection and incorrect acceptance.
Solution Preview
The risk of incorrect acceptance which is the risk of concluding from a sample that the book value is ...
Purchase this Solution
Free BrainMass Quizzes
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Introduction to Finance
This quiz test introductory finance topics.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Motivation
This tests some key elements of major motivation theories.
IPOs
This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)