Tolerable limit is the threshold value of the quantity. It acts like a barrier. Total estimated misstatement is the final estimate of the audit without any risk. To state : Judgment for the given scenarios where total estimated value is very close to tolerable limits value and explain about the course of actions.

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Chapter 8, Problem 61RSCQ

To determine

Introduction: Tolerable limit is the threshold value of the quantity. It acts like a barrier. Total estimated misstatement is the final estimate of the audit without any risk.

To state : Judgment for the given scenarios where total estimated value is very close to tolerable limits value and explain about the course of actions.

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Question

Chapter 8, Problem 61RSCQ

To determine

Introduction: Tolerable limit is the threshold value of the quantity. It acts like a barrier. Total estimated misstatement is the final estimate of the audit without any risk.

To state : Judgment for the given scenarios where total estimated value is very close to tolerable limits value and explain about the course of actions.

Expert Solution & Answer

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Answer 3

Question

Chapter 8, Problem 61RSCQ

To determine

Introduction: Tolerable limit is the threshold value of the quantity. It acts like a barrier. Total estimated misstatement is the final estimate of the audit without any risk.

To state : Judgment for the given scenarios where total estimated value is very close to tolerable limits value and explain about the course of actions.

Expert Solution & Answer

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Answer 4

Question

Chapter 8, Problem 61RSCQ

To determine

Introduction: Tolerable limit is the threshold value of the quantity. It acts like a barrier. Total estimated misstatement is the final estimate of the audit without any risk.

To state : Judgment for the given scenarios where total estimated value is very close to tolerable limits value and explain about the course of actions.

Expert Solution & Answer

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Answer 5

Chapter 8, Problem 61RSCQ

To determine

Introduction: Tolerable limit is the threshold value of the quantity. It acts like a barrier. Total estimated misstatement is the final estimate of the audit without any risk.

To state : Judgment for the given scenarios where total estimated value is very close to tolerable limits value and explain about the course of actions.

Answer 6

Chapter 8, Problem 61RSCQ

To determine

Introduction: Tolerable limit is the threshold value of the quantity. It acts like a barrier. Total estimated misstatement is the final estimate of the audit without any risk.

To state : Judgment for the given scenarios where total estimated value is very close to tolerable limits value and explain about the course of actions.

Answer 7

Chapter 8, Problem 61RSCQ

To determine

Introduction: Tolerable limit is the threshold value of the quantity. It acts like a barrier. Total estimated misstatement is the final estimate of the audit without any risk.

To state : Judgment for the given scenarios where total estimated value is very close to tolerable limits value and explain about the course of actions.

Answer 8

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Answer 9

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Answer 10

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Answer 11

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

Solution Summary: The author explains that tolerable limit and total estimated misstatement are the final estimates of audit without any risk. Auditor should change the sample size or relook the account balance to find any mistake.

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Chapter 8 Solutions