Question: In a MUS sample with a sampling interval of $8,000 an auditor discovered that a selected account receivable with a recorded amount of $2,000 had

In a MUS sample with a sampling interval of $8,000 an

In a MUS sample with a sampling interval of $8,000 an auditor discovered that a selected account receivable with a recorded amount of $2,000 had an audit amount of $1,000. If this were the only misstatement discovered by the auditor, the projected misstatement of this sample would be: Multiple Choice $2,000. $4,000. $9,000. $8,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Consolidation related simulation example: Millennium Capital Management, Inc., (MCM) acquired a 90% interest in NextGen, Inc. MCM's Financial Manager, Matthew Steven, has prepared a draft memo to the...

In a monetary unit sample with a sampling interval of $22,700, an auditor discovered that a selected account receivable witha recorded amount of $8,500 had an audit amount of $1,700. Calculate the...

The following apply to evaluating results of audit sampling for tests of details of balances. For each one, select the best response. a . While performing a substantive test of details during an...

ament 3 . The following apply to evaluating results of audit sampling for tests of details of balances. For each one, select the best response. a . While performing a substantive test of details...

In a MUS sample with a sampling interval of $15,000 an auditor discovered that a selected account receivable with a recorded amount of $28,000 had an audit amount of $21,000. If this were the only...

In a MUS sample with a sampling interval of $10,000, an auditor discovered that a selected accounts receivable with a recorded amount of $20,000 had an audit value of $16,000. If this is the only...

I need help ASAP please. In MUS sample with a sampling interval of $10,000, an auditor discovered that a selected account receivable with a recorded amount of $5,000 had an audited amount of $4,000....

Daily and Johnson, CPAs were conducting the audit of GarnerTool Supply for the year ended December 31.Cindy Steward, senior-in-charge of the audit, plans to use MUS to audit Garner's inventory...

see the attachment. please finish the requirements of module 4-5, Go to www .cengage.com/accounting/rittenberg for the Ford and Toyota materials. Source and Reference Ford 10-K Ford 10-K and Toyota...

Using Computerized Audit Software to Learn Statistical Sampling: An Instructional Resource Robert C. Richardson and Timothy J. Louwers INTRODUCTION Section 404 of the Sarbanes-Oxley Act (U.S. House...

How could sales force automation affect salesperson productivity, marketing management, and competitive advantage?

Outline the processes involved in a fermentation processes.

Which of the following are true about commercial paper? More than one answer may be correct ) It is a short term source of funds. Firms that issue contemercat paper do npt repurchase is . Its default...

1. Discuss the demographics of world trade since the 1960s 2. How has the role of the US changed 3. How is world trade expected to change in the future

As students, you are all familiar with the advising system at the School of Engineering and Computer Science (SOECS). Among the features of the advising system are: 1. Faculty advisors, 2. Inside web...

b. What assumption must you make about the population distribution in order to construct the confidence interval estimate in (a)? c. Do you think that the assumption needed in order to construct the...

1. Give a brief overview of the history of the term functions in Mathematics. (State source of your information) 2. The inverse of every function must be a function itself. State whether you agree or...

At December 31, 2020, Flint Company reported the following as plant assets. Land $ 3,770,000 Buildings Less: Accumulated depreciation-buildings $27,290,000 12,170,000 15,120,000 Equipment 48,020,000...

Within a continuously competitive global business environment, publicly held companies face constant pressure to generate and report positive financial results. Unfortunately, some leaders may be...

Define an unfair labor practice and provide three or four examples.

Cite two or three commonly observable practices in present-day organizational management that indicate the presence of residual authoritarianism.

Why is distributing union literature to employees arriving to or departing from work frequently assumed to be the first stage of active union organizing?