Re. the quote.
Audio CDs are always 16 bit 44100 Hz stereo
http://en.wikipedia.org/wiki/Compact_Di ... dio_format
If you are recording 24 bit 96 kHz and you want to avoid any losses between the recording and the export, then you will need the following setting in Audacity (Edit menu > Preferences > Quality)
Default Sample Rate: 96000
Default Sample Format: 24 bit or 32 bit float (in this case it does not matter which, but not 16 bit).
Both of the Dither settings to "None".
These settings are specific to your task of recording and then exporting in 24 bit 96 kHz and assume that you apply no processing in Audacity (do not "Amplify", "Normalize", "Fade" or use any other effects).
For normal use, the Default Sample Format should be 32 bit float and "High Quality Dither" should be "Shaped" or "Triangle" (by default it is "Shaped").
To export in 24 bit you could use either WAV, FLAC or AIFF format.
FLAC format may not be supported by default in your usual media player (a plug-in to add FLAC support may be available) but it has the advantage that the file sized are quite a bit smaller than either WAV or AIFF with no loss in sound quality (it is a "lossless" format).
See here for more information about exporting:
http://manual.audacityteam.org/o/man/fi ... ialog.html
To export as 24 bit WAV you need to set the file format as "other uncompressed files" and then click the "Options" button to select "signed 24 bit PCM" and "WAV" (or "AIFF").
To export as 24 bit FLAC, select FLAC as the file format and then click on the "Options" button and select "24 bit" as the "Bit Depth". The "Level" setting provides slightly smaller file sizes at higher levels but may be a bit slower to encode/decode (you are unlikely to notice much difference between 5 and 8).