Question: When using monetary-unit sampling, the upper misstatement limit was $11,200 and the risk of incorrect acceptance was 5%. This means that A. Tolerable misstatement is

When using monetary-unit sampling, the upper misstatement limit was $11,200 and the risk of incorrect acceptance was 5%. This means that

A. Tolerable misstatement is $11,200.

B. There is a 95% chance that the actual misstatement in the account is $11,200 or more.

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

D. There is a 95% chance that the actual misstatement in the account is $11,200 or less.

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