The 4,000 Accounts Receivable of GHI Company Have a Total

question 61

Multiple Choice

The 4,000 accounts receivable of GHI Company have a total book value of $60,000.Bob Smith,CPA,has selected and audited a sample of 100 accounts with a total book value of $1,600.Using the mean-per-unit estimation technique,Smith has properly estimated a projected misstatement of a $8,000 overstatement for the entire population.The audited value of Smith's sample is:

• A)$1,300
• B)$1,400
• C)$1,600
• D)$1,800

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Definitions:

Eclectic

Pertaining to an approach or method that selects and uses whatever is considered the best from various sources or systems.

Wellness

Wellness is the act of practicing healthy habits on a daily basis to attain better physical and mental health outcomes, rather than waiting for sickness to appear.

Mental Health

A state of well-being in which an individual realizes his or her own abilities, can cope with the normal stresses of life, can work productively and fruitfully, and is able to make a contribution to his or her community.

Lifestyle Choices

Decisions individuals make about how to live and behave, including diet, exercise, leisure activities, and work, which can affect their health and well-being.