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Using statistical sampling to assist in verifying the year-end accounts payable balance, an auditor ...

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Using statistical sampling to assist in verifying the year-end accounts payable balance, an auditor ...

Using statistical sampling to assist in verifying the year-end accounts payable balance, an auditor has accumulated the following data:

	Number of accounts	Book balance	Balance determined by the auditor
Population:	4,000	$5,000,000	?
Sample:	200	$250,000	$300,000

Projecting the misstatement to the population, the auditor's estimate of year-end accounts payable balance would be

▸ $5,050,000.

▸ $5,125,000.

▸ $6,000,000.

▸ $6,150,000.

Textbook

Auditing and Assurance Services

Edition: 17^th

Authors: Arens, Elder, Beasley, Hogan

Read 57 times

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Thanks for your help!!

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