When Using Systematic Selection Procedures with Monetary-Unit Sampling of Accounts

question 57

Multiple Choice

When using systematic selection procedures with monetary-unit sampling of accounts receivable, the interval is determined by:

• A) dividing the sample size by the account with the largest dollar value.
• B) consulting a random number table.
• C) dividing the population size by the account receivable with the largest dollar value.
• D) dividing the population size by the desired sample size.

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Definitions:

Segments

Parts or sections into which something is divided or separated.

Chunks

Units of information grouped together to be processed or remembered as a single unit, facilitating easier recall.

Magic Number

Refers to the short-term memory capacity, traditionally considered to be 7±2 items, as postulated by psychologist George A. Miller.

Short-term Memory

The ability to keep a limited quantity of data actively accessible in one's consciousness for a brief duration.