ACC555 FINAL EXAM

Jul 25th, 2016
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1. The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA has selected and audited a sample of 100 accounts with a total book value of $1,000 and an audited value of $1,200. Using the ratio estimation technique, the estimated total audited value of the population is: A. $100,000. B. $120,000. C. $140,000. D. $144,000 2. The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA has selected and audited a sample of 100 accounts with a total book value of $1,000 and an audited value of $1,200. Using the mean-per-unit estimation technique, the estimated total audited value of the population is: A. $100,000. B. $120,000. C. $140,000. D. $144,000. 3. Using the mean-per-unit estimation method an auditor has properly calculated the estimated total audited value of a population as $200,000. Her sample included 200 of the population's 40,000 items. She found that, in her sample the average audited value was $1 less tha

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ACC555 FINAL EXAM1. The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA hasselected and audited a sample of 100 accounts with a total book value of $1,000 and an audited value of$1,200.Using the ratio estimation technique, the estimated total audited value of the population is:A. $100,000.B. $120,000.C. $140,000.D. $144,0002. The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA hasselected and audited a sample of 100 accounts with a total book value of $1,000 and an audited value of$1,200.Using the mean-per-unit estimation technique, the estimated total audited value of the population is:A. $100,000.B. $120,000.C. $140,000.D. $144,000.3. Using the mean-per-unit estimation method an auditor has properly calculated the estimated totalaudited value of a population as $200,000. Her sample included 200 of the population's 40,000 items. Shefound that, in her sample the average audited value was $1 less than the average book value. What wasthe average audited value in the sample?A. $4.B. $5.C. $6.D. $10.4. Using difference estimation, an auditor has taken a sample of 200 from a population's 40,000 items;that population has a book value of $200,000. She found that in her sample the average audited value was$4.20, while the average book value was $5.20. What is the estimated total audited value of thepopulation?A. $160,000.B. $161,538.C. $168,000.D. $200,000.5. Using ratio estimat

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