Question: 44)Population Size = 10,000 items Book value = $8,000,000 Tolerable misstatement = $300,000 Sample (mean-per-unit estimation method results) Size = 100 items. Average book value

44)Population

  • Size = 10,000 items
  • Book value = $8,000,000
  • Tolerable misstatement = $300,000

Sample (mean-per-unit estimation method results)

  • Size = 100 items.
  • Average book value of sample items = $795
  • Allowance for sampling risk = $200,000
  • Projected misstatement = $100,000 overstatement

The average audited value in the sample is equal to:

Multiple Choice

  • $785.
  • $790.
  • $1,000.
  • $1,200.

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