Question: Question 5: What is meant by block sample selection, and when might an auditor choose to use this method of sampling?

Question 5: What is meant by block sample selection, and when might

Question 5: What is meant by block sample selection, and when might an auditor choose to use this method of sampling?

Step by Step Solution

★★★★★

3.52 Rating (159 Votes )

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!

Q:

Explain what is meant by block sample selection and describe how an auditor can obtain five blocks of 20 sales invoices from a sales journal.

Q:

What is meant by block activity on the NYSE? How important is it on the NYSE?

Q:

What is meant by equity financing? What is meant by debt financing?

Q:

Assume a companys estimated sales is 27,000 units. Its desired ending finished goods inventory is 5,000 units, and its beginning finished goods inventory is 3,000 units. What is the required...

Q:

See if you can determine the amount of Bluebird State Banks current net income after taxes from the figures below (stated in millions of dollars) and the amount of its retained earnings from current...

Q:

Phillip Florrick is responsible for the warehouse operation for a local discount department store chain. The warehouse has only one unloading dock that is currently operated by a single three- person...

Q:

Discuss the current state of data legislation in your country and the world. Which countries have most recently created legislature to protect employees specifically? How do you expect that to impact...

Q:

Sales Increase Bannister Legal Services generated $2.0 million in sales during 2009, and its year-end total assets were $1.5 million. Also, at year-end 2009, current liabilities were $500,000,...

Q:

What is the present value of $25 to be received at the BEGINNING of each year for the next 6 years if the discount rate is 12%? A. $125.00 B. $126.63 C. $115.12 D. none of the above

Q:

Calculator Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20--, is shown below. The SUTA...

Q:

2. You have just taken a job as the accountant for a stucco repair firm whose accounting year ends on December 3i. As part of the management team, you receive a year-end bonus directly related to the...

Q:

The table below shows the number of visitors to a museum over a period of 5 days. Monday Tuesday Wednesday Thursday Children 120 110 90 135 Adults 130 140 125 105 Which stack plot best represents the...

Q:

Justify whether or not you believe that Penalty Enhancements should attach to crimes based on hate or bias?

Q:

The company CEO of a heavily indebted company considers taking on a risky negative NPV project. In practice, the debtholders can best prevent this through 1 point a haircut. monitoring. increasing...

Q:

3. How do Gus's demands fit into the category of expecting Karen to exhibit strong organizational citizenship behavior?

Q:

On December 31, 2010, Gold Company purchases 80% of the common stock of Silver Corp. for its underlying book value of $480,000. On that date, the fair value of non-controlling interest was equal to...

Q:

Suppose that this month a firm earned a net cash flow of $800. If monthly cash receipts equaled $1200, how much were cash disbursements? Cash Budget Item June July August Cash receipts $ 375 $ 345 $...

Q:

Match the following. Answers may be used more than once: Measurement Method A. Amortized cost B. Equity method C. Acquisition method and consolidation D. Fair value method Reporting Method 1. Less...

Q:

List one possible internal control for each of the six transaction related audit objectives for cash disbursements. For each control, list a test of control to test its effectiveness.

Q:

Compare and contrast the accumulation of audit evidence and the evaluation of the adequacy of the disclosures in the financial statements. Give two examples in which adequate disclosure could depend...

Q:

What is meant by the term quality control as it relates to a CPA firm?

Q:

A group of 13 children and adolescents (considered healthy) participated in a psychological study designed to analyze the relationship between age and average total sleep time (ATST). To obtain a...

Q:

Several research workers associated with the Office of Highway Safety were evaluating the relationship between driving speed (MPH) and the distance a vehicle travels once brakes are applied (DIST)....

Q:

The production manager of a plant that manufactures syringes records the marginal cost at various levels of output for 14 randomly selected months. The data are shown here: a. On the accompanying...