An auditor is confirming a population of accounts receivable for ...

[ksmithunr]

Question 1

An accounts receivable population contains a total of four customers. The accounts, the amounts, and the cumulative total are shown below. Monetary unit sampling is to be used.

Account Name	Recorded  Amount	Cumulative Total
Blue	$357	$357
Brown	281	638
Gray	60	698
Green	574	1,272

Based on the information above, the population size is
◦ 4.
◦ 574.
◦ 1,272.
◦ 2,684.

Question 2

An auditor is confirming a population of accounts receivable for monetary correctness. The population totals $2,000,000 and a sample of 200 confirmations is obtained. Upon audit, no misstatements are uncovered in the sample. Assuming an ARIA of 10%, the confidence factor would be 2.31. Applied to a sampling interval of $10,000, the upper misstatement bound is calculated as
◦ $462.
◦ $4,329.
◦ $23,100.
◦ $865,801.

[Khareemom14]

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[ksmithunr]

YES! Correct, THANKS for helping me on my review

[coreycathey]

Thanks for the timely response, appreciate it