ALLOWANCE FOR SAMPLING RISK Definition

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ALLOWANCE FOR SAMPLING RISK is the difference between a sample estimate and the projected population characteristic at a specified sampling risk. This allowance
is also the difference between the expected error rate and the tolerable
deviation rate.

Learn new Accounting Terms

FRR see FINANCIAL REPORTING RELEASE.

PROCESSING CONTROL, in accounting, is an internal control included in computer software designed to assure that all transactions are handled as authorized and none omitted or added.

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