Question: In monetary-unit sampling plan, the upper limit on misstatements is $11,200 and the risk of incorrect acceptance is 5%. This means that Tolerable misstatement is

In monetary-unit sampling plan, the upper limit on misstatements is $11,200 and the risk of incorrect acceptance is 5%. This means that

Tolerable misstatement is 11,200.

There is a 95% change that the misstatement in the account is 11,200 or more.

There is a 95% chance that the misstatement in the account is 11,200.

There is a 95% chance that the misstatement is 11,200 or less.

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