If an Auditor Were to Calculate an Estimate of the Errors

question 26

Multiple Choice

If an auditor were to calculate an estimate of the errors by direct projection from the sample to the population and found $7000 of net overstatement errors in a sample of $100 000 out of a total population of $900 000, the estimate of errors in the population is

• A) $6300.
• B) $778.
• C) $63 000.
• D) $77 778.

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Definitions:

Internationalization

The process of increasing involvement of enterprises in international markets, often through exporting, importing, foreign direct investment, or entering into international partnerships.

Labor Solidarity

The unity and mutual support within the labor movement, where workers across different sectors support each other's struggles and goals.

McCormick Reaper Works

A historical manufacturer of agricultural equipment, known for inventing the mechanical reaper, which revolutionized farming.

National Labor Unions

Labor organizations that represent workers from various industries across the country, advocating for broad labor rights and policies.