Problem

Baily Cox, an audit manager, judged that the test of controls of the company’s 50,000 purc...

Baily Cox, an audit manager, judged that the test of controls of the company’s 50,000 purchase transactions should be based on a tolerable rate of deviation of 6 percent, a risk of overreliance of 5 percent, and an expected population deviation rate of 3 percent. Using AICPA sample size tables, Cox determined that the appropriate sample size in this situation would be

a. 49.

b. 78.

c. 132.

d. 195.

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