Examine the audit approach of testing all three accounts in one sample.

Question

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Answer 1

Question

Chapter 17, Problem 28DQP

a.

To determine

Examine the audit approach of testing all three accounts in one sample.

b.

To determine

Compute the required sample size for a combined sample of all three accounts.

c.

To determine

Compute the required sample size for each of the three accounts by assuming that the tolerable misstatement in each account is $100,000.

d.

To determine

Explain the manner in which the sample item in the population to audit for the number 4,627,871 can be identified and explain the audit procedures that can be performed.

e.

To determine

Compute the misstatement bounds for the three combined accounts and conclude appropriate audit conclusions.

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Answer 2

Question

Chapter 17, Problem 28DQP

a.

To determine

Examine the audit approach of testing all three accounts in one sample.

b.

To determine

Compute the required sample size for a combined sample of all three accounts.

c.

To determine

Compute the required sample size for each of the three accounts by assuming that the tolerable misstatement in each account is $100,000.

d.

To determine

Explain the manner in which the sample item in the population to audit for the number 4,627,871 can be identified and explain the audit procedures that can be performed.

e.

To determine

Compute the misstatement bounds for the three combined accounts and conclude appropriate audit conclusions.

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Answer 3

Question

Chapter 17, Problem 28DQP

a.

To determine

Examine the audit approach of testing all three accounts in one sample.

b.

To determine

Compute the required sample size for a combined sample of all three accounts.

c.

To determine

Compute the required sample size for each of the three accounts by assuming that the tolerable misstatement in each account is $100,000.

d.

To determine

Explain the manner in which the sample item in the population to audit for the number 4,627,871 can be identified and explain the audit procedures that can be performed.

e.

To determine

Compute the misstatement bounds for the three combined accounts and conclude appropriate audit conclusions.

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Answer 4

Question

Chapter 17, Problem 28DQP

a.

To determine

Examine the audit approach of testing all three accounts in one sample.

b.

To determine

Compute the required sample size for a combined sample of all three accounts.

c.

To determine

Compute the required sample size for each of the three accounts by assuming that the tolerable misstatement in each account is $100,000.

d.

To determine

Explain the manner in which the sample item in the population to audit for the number 4,627,871 can be identified and explain the audit procedures that can be performed.

e.

To determine

Compute the misstatement bounds for the three combined accounts and conclude appropriate audit conclusions.

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Answer 5

Chapter 17, Problem 28DQP

a.

To determine

Examine the audit approach of testing all three accounts in one sample.

b.

To determine

Compute the required sample size for a combined sample of all three accounts.

c.

To determine

Compute the required sample size for each of the three accounts by assuming that the tolerable misstatement in each account is $100,000.

d.

To determine

Explain the manner in which the sample item in the population to audit for the number 4,627,871 can be identified and explain the audit procedures that can be performed.

e.

To determine

Compute the misstatement bounds for the three combined accounts and conclude appropriate audit conclusions.

Answer 6

Chapter 17, Problem 28DQP

a.

To determine

Examine the audit approach of testing all three accounts in one sample.

Answer 7

Chapter 17, Problem 28DQP

a.

To determine

Examine the audit approach of testing all three accounts in one sample.

Answer 8

b.

To determine

Compute the required sample size for a combined sample of all three accounts.

Answer 9

b.

To determine

Compute the required sample size for a combined sample of all three accounts.

Answer 10

c.

To determine

Compute the required sample size for each of the three accounts by assuming that the tolerable misstatement in each account is $100,000.

Answer 11

c.

To determine

Compute the required sample size for each of the three accounts by assuming that the tolerable misstatement in each account is $100,000.

Answer 12

d.

To determine

Explain the manner in which the sample item in the population to audit for the number 4,627,871 can be identified and explain the audit procedures that can be performed.

Answer 13

d.

To determine

Explain the manner in which the sample item in the population to audit for the number 4,627,871 can be identified and explain the audit procedures that can be performed.

Answer 14

e.

To determine

Compute the misstatement bounds for the three combined accounts and conclude appropriate audit conclusions.

Answer 15

e.

To determine

Compute the misstatement bounds for the three combined accounts and conclude appropriate audit conclusions.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 17 - Prob. 1RQ Ch. 17 - Prob. 2RQ Ch. 17 - Prob. 3RQ Ch. 17 - Prob. 4RQ Ch. 17 - Prob. 5RQ Ch. 17 - Prob. 6RQ Ch. 17 - Prob. 7RQ Ch. 17 - Prob. 8RQ Ch. 17 - Prob. 9RQ Ch. 17 - Prob. 10RQ

Examine the audit approach of testing all three accounts in one sample.

Solution Summary: The author explains the audit approach of testing all three accounts in one sample. The sum of individual sample sizes is approximately equivalent to the sample size for the combined approach.

Examine the audit approach of testing all three accounts in one sample.

Compute the required sample size for a combined sample of all three accounts.

Compute the required sample size for each of the three accounts by assuming that the tolerable misstatement in each account is $100,000.

Explain the manner in which the sample item in the population to audit for the number 4,627,871 can be identified and explain the audit procedures that can be performed.

Compute the misstatement bounds for the three combined accounts and conclude appropriate audit conclusions.

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Chapter 17 Solutions