The formula for calculating precision is – McqOptions

MCQOPTIONS

1.	The formula for calculating precision is
A.	(Materiality - Range of error possible) x AMLE
B.	(Materiality - AMLE) x Range of error possible
C.	(AMLE - Range of error possible) x Materiality
D.	None of these
Answer» C. (AMLE - Range of error possible) x Materiality

Discussion

No Comment Found

Related MCQs

If the monthly accounts of some Treasuries or Public Works Divisions are excluded from the Accounts of a State Government, it affects this objective
Transaction audit essentially seeks to address the following issues of risks to:i Regularityii Performanceiii Proprietyiv Financial Control
In the context of Government Accounts in India, the key feeder systems aslo include State Bank of India or any other public sector bank transacting Government Business on behalf of Reserve Bank of India
If the financial statements properly present receipts and payments or give a true and fair viewand have been prepared in accordance with relevant accounting requirements, the auditor
The extent of audit procedures and the the level of assurance required are
This is a technique that creates an equation to reveal how one variable is related to one or more other variables.
The primary responsibility for safeguarding the audited entity’s funds and assets and to preventfrauds or errors lies with its
When you are finding out the inventory-turnover ratio, you are doing
The International Standards of Auditing (ISAs) have been developed by
Misclassification of revenue expenditure resulting in a saving in a grant when in fact there has been an excess is an example of.