An auditor uses nonstatistical ratio estimation to evaluate the results of a sample. The population book value
Question:
An auditor uses nonstatistical ratio estimation to evaluate the results of a sample. The population book value was $2,000,000 and contained 350 items. The auditor selected 100 items with a book value of $500,000. The audited value of the sample was $480,000. The estimated audited value of the population is:
a. $1,980,000.
b. $1,930,000.
c. $1,920,000.
d. $1,900,000.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
Question Posted: