If an auditor were to calculate an estimate of the errors by direct projection from the sample to the population and found $7000 of net overstatement errors in a sample of $100 000 out of a total population of $900 000, the estimate of errors in the population is
A) $6300.
B) $778.
C) $63 000.
D) $77 778.
Correct Answer:
Verified
Q12: Audit risk is a measure of
A) the
Q13: The materiality for Holloy Company is $75
Q14: Lauralye Leasing Limited (LLL) provides lease
Q19: Materiality should be adjusted for the effect
Q34: A)Explain how auditors use the audit risk
Q59: An important role of inherent risk assessment
Q65: Which of the following types of misstatements
Q68: The first step in applying materiality is
A)estimating
Q71: Since materiality is relative,it is necessary to
Q73: A)Discuss each of the six steps in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents