Dewey Cheatem is auditing the acquisition cycle. His audit program includes the following six procedures.
1	Review the acquisitions journal for unusual or related party transactions
2	Use audit software to foot the acquisitions journal and agree totals to the general ledger.
3	Vouch selected entries in acquisitions journal to voucher package, including supporting vendor invoice and receiving report.
4	Trace from receiving report to voucher package and recording in acquisitions journal.
5	Examination voucher package for evidence that all supporting documents (invoice and receiving reports) are canceled to prevent duplicate payment.
6	Determine whether the computer matches quantities on invoice with quantity on purchase order and receiving report and reports as exceptions differences exceeded 5%.

Dewey Cheatem is auditing the acquisition cycle. His audit program includes the following six procedures. 1 Review the acquisitions journal for unusual or related party transactions 2 Use audit software to foot the acquisitions journal and agree totals to the general ledger. 3 Vouch selected entries in acquisitions journal to voucher package, including supporting vendor invoice and receiving report. 4 Trace from receiving report to voucher package and recording in acquisitions journal. 5 Examination voucher package for evidence that all supporting documents (invoice and receiving reports) are canceled to prevent duplicate payment. 6 Determine whether the computer matches quantities on invoice with quantity on purchase order and receiving report and reports as exceptions differences exceeded 5%. 1 1 a. For which audit procedures can audit sampling be effectively used? 1 5 6 No (Answer yes or no for #2-6) Dewey decided to use prenumbered receiving reports as the sampling unit for the attributes sampling application. Indicate the audit procedures for which prenumbered receiving reports could be used as the sampling unit. b. 1 2 4 5 6 Yes (Answer yes or no for #1-3; 5-6) An auditor takes a statistical sample of 50 documents and finds one exception. The tolerable rate is 7%, the expected population exception rate is 1%, and the allowance for sampling risk is 6%. What is the CUER for the sample? C. CUER = 8% Enter an amount for CUER in cell C24 Dewey Cheatem is auditing the acquisition cycle. His audit program includes the following six procedures. 1 Review the acquisitions journal for unusual or related party transactions 2 Use audit software to foot the acquisitions journal and agree totals to the general ledger. 3 Vouch selected entries in acquisitions journal to voucher package, including supporting vendor invoice and receiving report. 4 Trace from receiving report to voucher package and recording in acquisitions journal. 5 Examination voucher package for evidence that all supporting documents (invoice and receiving reports) are canceled to prevent duplicate payment. 6 Determine whether the computer matches quantities on invoice with quantity on purchase order and receiving report and reports as exceptions differences exceeded 5%. 1 1 a. For which audit procedures can audit sampling be effectively used? 1 5 6 No (Answer yes or no for #2-6) Dewey decided to use prenumbered receiving reports as the sampling unit for the attributes sampling application. Indicate the audit procedures for which prenumbered receiving reports could be used as the sampling unit. b. 1 2 4 5 6 Yes (Answer yes or no for #1-3; 5-6) An auditor takes a statistical sample of 50 documents and finds one exception. The tolerable rate is 7%, the expected population exception rate is 1%, and the allowance for sampling risk is 6%. What is the CUER for the sample? C. CUER = 8% Enter an amount for CUER in cell C24