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Author Question: When the sample selection is done using probability proportional to size sample selection (PPS), (Read 56 times)

haydenjmcm

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on: Aug 21, 2022

Question 1

Using statistical sampling to assist in verifying the year-end accounts payable balance, an auditor has accumulated the following data:

​Number of
accounts		Book
balance		Balance
determined by
the auditor
Population:4,000$5,000,000?
Sample:200$250,000$300,000
Projecting the misstatement to the population, the auditor's estimate of year-end accounts payable balance would be
◦ $5,050,000.
◦ $5,125,000.
◦ $6,000,000.
◦ $6,150,000.

Question 2

When the sample selection is done using probability proportional to size sample selection (PPS),
◦ the actual number of units selected for testing may be more than the computed sample size.
◦ the auditor must use systematic selection, rather than random selection of dollars.
◦ population items with a zero recorded balance have no chance of being selected.
◦ negative balances must be treated as positive balances.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by haydenjmcm on Aug 21, 2022

annaelena92

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Reply #1 on: Aug 21, 2022
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haydenjmcm

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

elyse44

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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