Exhibit 10-1 In an Audit of the Outstanding Bills in a Large

question 30

Multiple Choice

Exhibit 10-1
In an audit of the outstanding bills in a large multi-national firm, the auditor selected a random sample of 40 of these bills and recorded the dollar value of each outstanding bill.The data were analyzed using Excel (see below) .

-Refer to Exhibit 10-1.Suppose the auditor wants to test,at a 1% significance level,the null hypothesis that the population mean dollar value of the outstanding bills is equal to 130.0 versus the alternative null hypothesis that the population mean dollar value of the outstanding bills is not equal to 130.0.The auditor:

• A)should not reject the null hypothesis.
• B)should reject the null hypothesis.
• C)must collect more data before rejecting or not rejecting the null hypothesis.
• D)cannot reject the null hypothesis with less than a 5% significance level.

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Definitions:

Observations

The act of monitoring or recording behaviors, actions, or events as a method of collecting data in research or assessment.

Job Specifications

A detailed description of the qualifications, skills, experience, and attributes required for a particular job role.

Job Evaluation Systems

Methodologies used by organizations to assess the relative worth of jobs within the company, to ensure fair compensation.

Job Analysis

A systematic examination of a job to identify its component tasks, responsibilities, and the necessary skills, knowledge, and abilities for performance.