Question: Evaluating a PPS sample Assume the following misstatements were found in a PPS sample: Sample Item Book Value Audit Value 1 $ 650 $ 585

Evaluating a PPS sample Assume the following misstatements were found in a PPS sample:

Sample Item Book Value Audit Value

1 $ 650 $ 585

2 540 0

3 1,900 0

4 2,200 1,650

5 2,800 2,660

a. Calculate the projected misstatement assuming:

  • The sampling interval was $1,800.
  • The sampling interval was $ 2,000.

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