ICAEW ARF · Chapter 9 · Question 3 of 11
An auditor wishes to select a sample of 60 sales invoices from a population of 2,400 invoices using systematic selection. What is the sampling interval?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) 40
Explanation
Sampling interval = population size / sample size = 2,400 / 60 = 40. The auditor would choose a random starting point between 1 and 40 and then select every 40th invoice. 60 is the sample size, and 24 and 400 result from misplacing the decimal point.
More Sampling and audit documentation MCQs
- Q5When testing controls, which of the following would increase the required sample size?
- Q6Which of the following is an example of non-sampling risk?
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- Q8Which of the following is NOT a purpose of audit documentation?
- Q9Which of the following must be recorded on audit working papers documenting the testing of a sample of purchase invoices?