When planning and extracting a Monetary Unit Sampling (MUS) sample, the appropriate approach is to understand if it’s appropriate for items with a zero value to exist in the population before extracting a sample. This step is crucial because zero-value items may have an impact on the sampling parameters and the conclusions drawn from the sample results. It's essential to consider whether including or excluding these items aligns with the objectives of the audit and the nature of the population being tested.
Other options provided are not in line with standard MUS practices:
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Extracting a single sample from a population that contains items with different characteristics might lead to biased results if the items don't share similar risks or attributes, and different sampling methods might be more suitable in such cases.
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Converting negative items to positives and combining them with positive items before extracting a sample is not a standard practice in MUS. MUS typically works with absolute monetary values, and both positive and negative amounts should be considered separately, as they represent different transactions or events.
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Extracting a single sample from one combined population made up of two significant accounts could be problematic if the accounts have different risk profiles or characteristics. Combining them might not accurately reflect the overall risk in the population, and separate samples or adjusted sampling methods might be necessary.
In summary, understanding the appropriateness of zero-value items in the population is key when planning a MUS sample.
