EP AUDITING+ASSURANCE...-MYACCT.LAB
16th Edition
ISBN: 9780134148656
Author: ARENS
Publisher: PEARSON CO
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Question
Chapter 17, Problem 26DQP
a.
To determine
Select a random PPS sample of 10 items, using computer software.
b.
To determine
Select a sample of 10 items using systematic PPS sampling by using starting point of 1857 and find out the physical units associated with the sample dollars.
c.
To determine
Identify the sample items that will be included in the systematic PPS sample irrespective of the starting point and state whether it will also be true of random PPS sampling.
d.
To determine
Identify the method which is preferable in terms of ease of selection in the case.
e.
To determine
State whether an auditor will use MUS.
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An auditor is going to choose a sample of accounts receivable balances at year end to test and has determined the appropriate sampling interval to be 4 with a random start of the second balance in the list. Presented below are the first 10 accounts in the list (in order). Determine the first 2 account balances (including the random start) that will be sampled and tested using the sampling interval.
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Monetary unit sampling (MUS) is the most commonly used statistical method of samplingfor tests of details because of its simplicity and its ability to provide statistical resultsin dollars. Read an article titled “Monetary-Unit Sampling Using Microsoft Excel” thatappeared in the May 2005 issue of The CPA Journal (www.nysscpa.org/cpajournal/2005/505/essentials/p36.htm) to answer the following questions.a. The authors suggest that there are three critical steps in applying MUS. What arethese steps?b. How do the authors indicate that an MUS sample size is determined?c. What two factors must be considered when evaluating the results of the sample?
Compute the mean, median, and mode of the data sample. (If every number of the set is a solution, enter EVERY in the answer box.)
3, 4, 4, 8, −4
mean______
median_______
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Chapter 17 Solutions
EP AUDITING+ASSURANCE...-MYACCT.LAB
Ch. 17 - Prob. 1RQCh. 17 - Prob. 2RQCh. 17 - Prob. 3RQCh. 17 - Prob. 4RQCh. 17 - Prob. 5RQCh. 17 - Prob. 6RQCh. 17 - Prob. 7RQCh. 17 - Prob. 8RQCh. 17 - Prob. 9RQCh. 17 - Prob. 10RQ
Ch. 17 - Prob. 11RQCh. 17 - Prob. 12RQCh. 17 - Prob. 13RQCh. 17 - Prob. 14RQCh. 17 - Prob. 15RQCh. 17 - Prob. 16RQCh. 17 - Prob. 17RQCh. 17 - Prob. 18RQCh. 17 - Prob. 19.1MCQCh. 17 - Prob. 19.3MCQCh. 17 - Prob. 19.2MCQCh. 17 - Prob. 20.1MCQCh. 17 - Prob. 20.2MCQCh. 17 - Prob. 20.3MCQCh. 17 - Prob. 21.1MCQCh. 17 - Prob. 21.3MCQCh. 17 - Prob. 21.2MCQCh. 17 - Prob. 22.1MCQCh. 17 - Prob. 22.2MCQCh. 17 - Prob. 22.3MCQCh. 17 - Prob. 23DQPCh. 17 - Prob. 24DQPCh. 17 - Prob. 25DQPCh. 17 - Prob. 26DQPCh. 17 - Prob. 27DQPCh. 17 - Prob. 28DQPCh. 17 - Prob. 29DQPCh. 17 - Prob. 30DQPCh. 17 - Prob. 31CCh. 17 - Prob. 32C
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