Question: You have developed a non - statistical sample and found that the projected misstatement in your sample is $ 8 , 0 0 0 ,

You have developed a non-statistical sample and found that the projected misstatement in your sample is $8,000, while the tolerable misstatement is $9,000. What would you likely conclude?

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!

Q:

I would like help with my auditing class practice problem. I need completed work display and it include a book value and sampling population. (I can supply book value when upon agreement. Required 1....

Q:

sample Assume the following misstatements were found in a PPS sample: Required a. Calculate the projected misstatement assuming: 1. The sampling interval was $1,800. 2. The sampling interval was...

Q:

Barbara Whitley had great expectations about her future as she sat at her graduation ceremony in May 2015. She was about to receive her Master of Accountancy degree, and the following week she would...

Q:

Assume that you are preparing to confirm accounts receivable at December 31, 2022, which is one month prior to the fiscal year-end of January 31, 2023. The book value of gross accounts receivable is...

Q:

Stephanie is auditing a major consumer products manufacturer. She is building her audit plan and trying to determine her approach to auditing their ending inventory balance as well as the long-term...

Q:

INTRODUCTION Your audit firm, Garrett and Schulzke LLP, is engaged to perform the annual audit of Hooplah, Inc., for the year ending December 31, 2014. Hooplah is a privately-held company that sells...

Q:

-------------------------------------------------------------------------------------------------------------------------- Take a look at the apple inventory example. The tests reveal a difference of...

Q:

Exercise based on AICPA Guide- Audit Sampling- Chapter 5 Nonstatistical Sampling Case Study 5.01 This chapter provides a case study illustrating the design and use of a nonstatistical sample. 5.02...

Q:

Please I need this to be answered. Audit Sampling Case Study- Air BNB Co. You are the experienced assistant auditor for the audit of Technology Inc. (the Company"), whose audit is subject to the...

Q:

Background Information Your audit firm, Hawk & Soar, PLLC, has been engaged to perform the annual audit of TealDeal, Inc. The Company manufactures and sells board shorts, t-shirts, and visors with...

Q:

Discuss in detail how a manager's understanding of his employees' physiological, safety, social, esteem, and self-actualization needs improve productivity?

Q:

Define zero base budgeting. What are the step involved in this?

Q:

A US corporate note, The Royal Caribbean Cruise line ( RCL ) 7 . 5 of 1 0 / 1 5 / 2 0 2 7 trades at a price of 1 0 3 . 9 6 9 yielding approximately 5 . 7 8 5 2 % . For settlement April 7 , 2 0 2 5 ,...

Q:

Solve B. 6a2-23a +20. a +2 2a2-a-10 2a-5