Chat with AIExam 19: Variables Sampling
Exam 1: Auditing and Assurance Services62 Questions
Exam 2: Professional Standards83 Questions
Exam 3: Engagement Planning78 Questions
Exam 4: Management Fraud and Audit Risk69 Questions
Exam 5: Risk Assessment: Internal Control Evaluation67 Questions
Exam 6: Employee Fraud and the Audit of Cash41 Questions
Exam 7: Revenue and Collection Cycle112 Questions
Exam 8: Acquisition and Expenditure Cycle131 Questions
Exam 9: Production Cycle97 Questions
Exam 10: Finance and Investment Cycle116 Questions
Exam 11: Completing the Audit59 Questions
Exam 12: Reports on Audited Financial Statements91 Questions
Exam 13: Other Public Accounting Services54 Questions
Exam 14: Professional Ethics46 Questions
Exam 15: Legal Liability54 Questions
Exam 16: Internal Audits, Governmental Audits, and Fraud Examinations109 Questions
Exam 17: Overview of Sampling95 Questions
Exam 18: Attributes Sampling106 Questions
Exam 19: Variables Sampling104 Questions
Exam 20: Auditing and Information Technology32 Questions
Select questions type
Roberts,CPA,decided to use monetary unit sampling in the audit of a client's accounts receivable balance.The recorded amount of the accounts receivable control account totaled $2,000,000 and consisted of approximately 5,000 accounts.Roberts established a tolerable misstatement of $100,000,a risk of incorrect acceptance of 5 percent,and an expected misstatement of $10,000.
a.Calculate the sample size.
b.Calculate the sampling interval.
(Essay)
4.8/5 
(40)
(40) Brown,CPA,was using monetary unit sampling to audit an inventory of $3,000,000 that was comprised of 6,000 items.A sample size of 500 was determined and a tolerable misstatement of $20,000 was established.The sampling interval would be:
(Multiple Choice)
4.8/5 (34)
(34) Which of the following is not true with respect to the risk of incorrect acceptance?
(Multiple Choice)
4.9/5 (34)
(34) 
Filters
- Essay(0)
- Multiple Choice(0)
- Short Answer(0)
- True False(0)
- Matching(0)