Which of the following statements refer to the currency criteria when evaluating secondary data?
A) Data should be reliable and generalizable to the problem at hand.
B) Syndicated firms periodically update census data.
C) The objective will determine the relevance of the data. Reconfigure the data to increase their usefulness, if possible.
D) Assess accuracy by comparing data from different sources.
Ans: B) Syndicated firms periodically update census data.
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If we wish to monitor the average diameter of the hula hoops we are producing, the distribution we base our statistics on is the ________ distribution
Fill in the blanks with correct word
The possibility that a material error will occur even though auditors are following audit procedures and using good judgment is referred to as
A) control risk. B) detection risk. C) inherent risk. D) investigating risk.