Using Statistical Sampling to Assist in Verifying the Year-End Accounts

question 37

Multiple Choice

Using statistical sampling to assist in verifying the year-end accounts payable balance, an auditor has accumulated the following data:
Projecting the misstatement to the population, the auditor's estimate of year-end accounts payable balance would be:

• A)$5,050,000.
• B)$5,125,000.
• C)$6,000,000.
• D)$6,150,000.

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Definitions:

Substage 6

The final phase of Jean Piaget's sensorimotor stage of cognitive development, where infants aged about 18-24 months start to develop symbolic thought and mental representation.

Sensorimotor Period

A stage in Jean Piaget's theory of cognitive development, where infants learn through interacting with their environment using their senses and motor actions.

Search for an Object

A cognitive milestone in child development where a child learns that objects continue to exist even when they are not seen, leading to behaviors such as looking for hidden objects.

Problem Solving

The process of identifying a challenge and finding an effective solution to overcome it.