Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error. Requirement 1 To determine the effect on sample size of increasing of the sampling risk.

Question

On January 1, 2014, Wonder, Inc., reports net assets of $965,000, although equipment (with a four-year life) having a book value of $525,000 is worth $600,000, and an unrecorded patent is valued at $56,200. Halifax Corporation pays $910,000 on that date for an 85% ownership in Wonder. If the patent is to be written off over a 12-year period, at what amount should it be reported on consolidated statements at December 31, 2015?

Answer 1

Question

Chapter 8, Problem 13RQSC

To determine

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

To determine

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

To determine

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

To determine

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.

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On January 1, 2014, Wonder, Inc., reports net assets of $965,000, although equipment (with a four-year life) having a book value of $525,000 is worth $600,000, and an unrecorded patent is valued at $56,200. Halifax Corporation pays $910,000 on that date for an 85% ownership in Wonder. If the patent is to be written off over a 12-year period, at what amount should it be reported on consolidated statements at December 31, 2015?

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Answer 2

Question

Chapter 8, Problem 13RQSC

To determine

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

To determine

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

To determine

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

To determine

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.

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Answer 3

Question

Chapter 8, Problem 13RQSC

To determine

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

To determine

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

To determine

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

To determine

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.

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Answer 4

Question

Chapter 8, Problem 13RQSC

To determine

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

To determine

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

To determine

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

To determine

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.

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Answer 5

Chapter 8, Problem 13RQSC

To determine

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

To determine

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

To determine

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

To determine

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.

Answer 6

Chapter 8, Problem 13RQSC

To determine

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

Answer 7

Chapter 8, Problem 13RQSC

To determine

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

Answer 8

To determine

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

Answer 9

To determine

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

Answer 10

To determine

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

Answer 11

To determine

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

Answer 12

To determine

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.

Answer 13

To determine

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.

Answer 14

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Answer 25

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

Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error. Requirement 1 To determine the effect on sample size of increasing of the sampling risk.

Solution Summary: The author explains that sample size is the basic unit of audit to examine the sample risk, tolerance limit and sample error.

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.

Chapter 8 Solutions

Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error. Requirement 1 To determine the effect on sample size of increasing of the sampling risk.

Solution Summary: The author explains that sample size is the basic unit of audit to examine the sample risk, tolerance limit and sample error.

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error. Requirement 1 To determine the effect on sample size of increasing of the sampling risk.

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk. Requirement 2 To determine the effect on sample size of increasing of tolerable rate of deviation.

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan. Requirement 3 To determine the effect on sample size of increasing of population deviation rate.

Introduction:Sample size is decided by the auditor to minimize the risk level. Requirement 4 To determine the effect on sample size of increasing of population size.

Chapter 8 Solutions

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.