Population Sampling

Expected Error
The extent of the errors that an auditor expects to find when performing substantive tests on a population or a sample of it.
Inferential Statistics
Inferential statistics is the process of drawing information from sampled observations of a population and making conclusions about the population.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.