In an Accounts Receivable Sample with a Sampling Interval of $5,000

question 163

Short Answer

In an accounts receivable sample with a sampling interval of $5,000, an auditor identifies a recorded amount of $10,000 which has an audited amount of $8,000.If this was the only error that the auditor discovered, what would the projected misstatement for this sample be?

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Definitions:

Comma Splice

A grammatical mistake where two independent clauses are joined incorrectly with only a comma without an appropriate conjunction.

Independent Clauses

Sentences or parts of sentences that can stand alone as complete thoughts because they contain both a subject and a verb.

Punctuation

The system of symbols, including commas, periods, question marks, and exclamation points, used in writing to separate sentences and clarify meaning.

Conjunction

A word used to connect clauses or sentences or to coordinate words in the same clause.