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NEW QUESTION: 1
An audit partner is developing an office training program to familiarize his professional staff with statistical
decision models applicable to the audit of dollar value balances. He wishes to demonstrate the relationship
of sample sizes to population size and variability and the auditor's specifications as to tolerable
misstatement and risk of incorrect acceptance. The partner prepared the following table to show
comparative population characteristics and audit specifications of two populations. You are to indicate for
the specified case from the above table the required sample size to be selected from population 1 relative
to the sample from population 2. In case 4 the required sample size from population 1 is:
A. Smaller than the required sample size from population 2.
B. Indeterminate relative to the required sample size from population 2.
C. Equal to the required sample size from population 2.
D. Larger than the required sample size from population 2.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Choice "C" is correct. There are two changes occurring, but they both have the same effect on sample
size. A decrease in population variability and an increase in the risk of incorrect acceptance both result in a
decrease in the required sample size. Note that the number of items in the population is generally
assumed to have virtually no effect on sample size.
Choices "A", "B", and "D" are incorrect, based on the above Explanation.
NEW QUESTION: 2
Which of the following steps are involved in a basic risk assessment?
A. None of the items listed
B. Determine the chances of a disaster or risk related event occurring
C. All of the items listed
D. Determine what data and systems need to be protected
E. Investigate potential legal, financial, and regulatory issues
F. Evaluate who are the potential threats
Answer: C
NEW QUESTION: 3
You created a sourcing two-stage sealed RFQ and invited five suppliers to participate. The
Technical stage is completed and the Commercial stage is unlocked.
At this time in the award negotiation section, in the Award Line you are able to see only three supplier's responses as active responses. You are not able to see the other two suppliers' data in the active responses.
Which two reasons are causing this?
A. Suppliers were already awarded.
B. Suppliers were not shortlisted in the Technical stage.
C. You have entered these two suppliers' responses as surrogate responses by a buyer. In the Commercial stage, the buyer has not yet entered surrogate responses.
D. Suppliers have entered the responses. Because the RFQ is sealed, you are not able to view these two suppliers' data.
E. Supplier responses are closed.
Answer: B,C
Explanation:
C: If you are not able to submit a response to an initiative, you can request that the category manager submit a surrogate response on your behalf.
E: You can specify a minimum score value that all responses must meet or surpass for that response to be shortlisted for awarding. When you begin awarding the negotiation, you apply the knockout score. All responses having a requirement response value that doesn't meet the knock out value are marked as not shortlisted for awarding.