Which of the following statements is false? a. when properly used, either nonstatistical or statistical sampling can be effective in providing sufficient appropriate audit evidence. b. statistical sampling allows the auditor to precisely control the risk of making an incorrect inference about the population from which the sample is taken, whereas nonstatistical sampling does not allow such control. c. nonstatistical sampling may avoid second guessing by regulators or jurors should those parties question the quality of the sampling method used. d. combining statistical sampling with audit judgment generally produces a higher quality audit conclusion than using audit judgment alone.

Will you use single-entry bookkeeping or double-entry bookkeeping? explain why.

Activity-based costing (abc) is not truly a cost collection mechanism as much as it is an inventory valuation method. the main purpose for implementing an activity-based cost system is to try to overcome some of the cost distortions that occur in traditional costing from product differences when there are variations in size and complexity. however, one of the disadvantages of utilizing abc is that the additional information gathering necessary to implement costing with that level of detail might be beyond the reach of some companies with resource or financial constraints. with this in mind, what kinds of industries or companies do you think would benefit most from using activity-based costing and why? in designing or modifying an accounting system to capture appropriate costs for abc, what considerations do you think would need to be made?

Three years ago, the city of recker committed to build a park and music venue by the river. it was expected to cost $2.5 million and be paid for from an additional meals tax in the community. the residents pushed back. local restaurants suffered as people ate out less or patronized restaurants in neighboring communities. the project has stalled, but the town council kept pushing it on. this spring, a flood devastated the venue. the town council appears to have suffered from bias