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For monetary-unit sampling, a sampling interval of 400 means that: A) every 400th item in the...
In a monetary unit sample with a sampling interval of $23,500, an auditor discovered that a...
In a monetary unit sample with a sampling interval of $23,500, an auditor discovered that a selected account receivable with a recorded amount of $12,000 had an audit amount of $2,400. Calculate the projected misstatement for this one item Projected misstatement
eek 1 Homework In a monetary unit sample with a sampling interval of 522,400, an auditor...
eek 1 Homework In a monetary unit sample with a sampling interval of 522,400, an auditor discovered that a selected account receivable with a recorded amount of $10,000 had an audit amount of $2,800. Calculate the projected misstatement for this one item Projected misstatement < Prev 2 of 10 Next >
In a monetary-unit sample with a sampling interval of $5,000, an auditor discovers that a selected...
In a monetary-unit sample with a sampling interval of $5,000, an auditor discovers that a selected account receivable with a recorded amount of $10,000 has an audit amount of $8,000. If this were the only error discovered by the auditor, the projected misstatement for this sample would be A. $5,000 B. $4,000 C. $2,000 D. $1,000
For each item, select the proper statistical term. Terms are only used once and each item...
For each item, select the proper statistical term. Terms are only used once and each item has only one correct answer. - A. B. C. D. E. F. G. H. I. J. K. L. M. N. O. P. Hanna, CPA, identified the item in which...
An auditor used a nonstatisitcal sampling plan to audit the inventory of a bicycle supply company....
An auditor used a nonstatisitcal sampling plan to audit the inventory of a bicycle supply company. The auditor tested the recorded cost of a sample of inventory items by reference to vendors’ invoices. In performing the test, the auditor verified all the items on two pages selected at random from the client’s 400 page inventory listing. The sampling plan resulted in a test of $50,000 of the total book value of $5,000,000, and the auditor found a total of $5,000...
25. In Monetary Unit Sampling/Dollar Unit Sampling, which of the following dollar amounts is most likely to be selected? $125.44 $100.00 $50.00 $155.00 26 What of the following best describes the co...
25. In Monetary Unit Sampling/Dollar Unit Sampling, which of the following dollar amounts is most likely to be selected? $125.44 $100.00 $50.00 $155.00 26 What of the following best describes the concepts of tracing and vouching? Tracing starts at the source docs and ends at the financial statements, while vouching starts at the financial statements and ends at the source documents. Vouching starts at the source docs and ends at the financial statements, while tracing starts at the financial statements...
17 Saved Rachel Robertson wishes to use mean-per-unit sampling to evaluate the reasonableness of the book...
17
Saved Rachel Robertson wishes to use mean-per-unit sampling to evaluate the reasonableness of the book value of the accounts receivable of Smith, Inc. Smith has 10,800 receivable accounts with a total book value of $1,575,000. Robertson estimates the population's standard deviation to be equal to $21. After examining the overall audit plan, the auditors believe that the account's tolerable misstatement is $69,000, and that a risk of incorrect rejection of 10 percent and a risk of incorrect acceptance of...
1- (i) For populations scattered in a wide area, the preferred technique for sampling is cluster...
1- (i) For populations scattered in a wide area, the preferred technique for sampling is cluster sampling. (ii) If the population can be divided into homogeneous subgroups, stratified random sampling is the best sampling method to use. (iii) If every k-th item in the population sequence is selected, you are using systematic random sampling. 2- i. If a population is not normally distributed, the sampling distribution of the sample means tends to approximate a normal distribution. ii. The Central Limit...
Please answer A, B, C Thanks! only used for Class Discussion Exercise Kayla Reed is using...
Please answer A, B, C
Thanks!
only used for Class Discussion Exercise Kayla Reed is using mean-per-unit estimation in the audit of Hamilton's inventory balances. Hamilton's inventory is recorded at $240,000 and comprises 1.200 different items. Reed determined a sample size of 120 items and performed the appropriate substantive procedures and based on this sample, determined the following: Average audited value (per item) Standard deviation of audited values $ 204 $ 22 A summary of some additional parameters estimated by...
An account balance is $300,000 and there are 25 items in the account, six of which have balances that equal or exceed $1...
An account balance is $300,000 and there are 25 items in the account, six of which have balances that equal or exceed $15,000. The auditor plans to use a monetary-unit sampling plan with systematic sample selection. To ensure that all accounts with balances of at least $15,000 are selected, the sampling interval should be . Please provide explanation a.6 b. 20 c. 12,000 d. 15,000
In a monetary unit sample with a sampling interval of $23,500, an auditor discovered that a selected account receivable with a recorded amount of $12,000 had an audit amount of $2,400. Calculate the projected misstatement for this one item Projected misstatement
eek 1 Homework In a monetary unit sample with a sampling interval of 522,400, an auditor discovered that a selected account receivable with a recorded amount of $10,000 had an audit amount of $2,800. Calculate the projected misstatement for this one item Projected misstatement < Prev 2 of 10 Next >
17
Saved Rachel Robertson wishes to use mean-per-unit sampling to evaluate the reasonableness of the book value of the accounts receivable of Smith, Inc. Smith has 10,800 receivable accounts with a total book value of $1,575,000. Robertson estimates the population's standard deviation to be equal to $21. After examining the overall audit plan, the auditors believe that the account's tolerable misstatement is $69,000, and that a risk of incorrect rejection of 10 percent and a risk of incorrect acceptance of...
Please answer A, B, C
Thanks!
only used for Class Discussion Exercise Kayla Reed is using mean-per-unit estimation in the audit of Hamilton's inventory balances. Hamilton's inventory is recorded at $240,000 and comprises 1.200 different items. Reed determined a sample size of 120 items and performed the appropriate substantive procedures and based on this sample, determined the following: Average audited value (per item) Standard deviation of audited values $ 204 $ 22 A summary of some additional parameters estimated by...
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