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Author Question: An auditor is confirming a population of accounts receivable for monetary correctness. The ... (Read 76 times)

ksmithunr

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on: Aug 21, 2022

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 5741,272
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.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by ksmithunr on Aug 21, 2022

Khareemom14

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ksmithunr

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Reply 2 on: Aug 21, 2022
Great answer, keep it coming :)

tandmlomax84

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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