Multiple Choice
You are auditing Raji and Company. You discover an item of inventory with an audited value of $5,000 with a recorded amount of $3,000. If this is the only error you discover, the projected misstatement for the sample would be
A) $5,000.
B) $2,000.
C) $3,000.
D) $4,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q99: If no exceptions were found in the
Q100: The acceptable risk of incorrect rejection is
Q101: In difference estimation sampling, the confidence limits
Q102: The allowance for sampling risk when no
Q103: There are 14 steps to audit sampling
Q105: The confidence coefficients for ARIA are different
Q106: Acceptable risk of incorrect acceptance (ARIA) and
Q107: The larger the sample size, the more
Q108: In monetary unit sampling, a sampling interval
Q109: Accounts with zero or negative year-end balances