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3.  Which of the following statements is correct concerning probability-proportional-to-size (PPS) sampling, also known as monetary unit sampling?

50.  How would increases in tolerable misstatement and assessed level of control risk affect the sample size in a substantive test of details?

42.  In which of the following circumstances would an auditor be most likely to express a disclaimer of opinion?

24.  When auditing accounts receivable, the positive form of confirmation request most likely would be used when:

27.  When an auditor qualifies the opinion because of inadequate disclosure, the auditor should describe the nature of the omission in one or more separate explanatory paragraph(s) and modify the:

48.  Which of the following procedures is least likely to be performed before the balance sheet date?

50.  How would increases in tolerable misstatement and assessed level of control risk affect the sample size in a substantive test of details?

48.  Which of the following procedures is least likely to be performed before the balance sheet date?

31.  When planning a sample for a substantive test of details, an auditor should consider tolerable misstatement for the sample.  This consideration should:

26.  Kregl, CPA, has completed the field work for the current annual audit of Hewett Merchandising Corp.  Kregl obtained sufficient and appropriate audit evidence for all of Hewett’s account balances, transactions and disclosures except for Hewett’s beginning-of-year inventory balance.  Due to inadequate records Kregl could not verify Hewett’s beginning-of-year inventory balance.  Kregl’s opinion on Hewett’s current year financial statements most likely will be: