Brown,CPA,was using monetary unit sampling to audit an inventory of $3,000,000 that was comprised of 6,000 items.A sample size of 500 was determined and a tolerable misstatement of $20,000 was established.The sampling interval would be:
A)$500.
B)$5,000.
C)$6,000.
D)$20,000.

Question

Quizplus · Accepted Answer

The Answer of Brown,CPA,was using monetary unit sampling to audit an inventory of $3,000,000 that was comprised of 6,000 items.A sample size of 500 was determined and a tolerable misstatement of $20,000 was established.The sampling interval would be:
A)$500.
B)$5,000.
C)$6,000.
D)$20,000.

Brown,CPA,was Using Monetary Unit Sampling to Audit an Inventory of $3,000,000