THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 16

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
An auditor is faced with reviewing 1,098 invoices.From a random sample of 134 of these accounts,he found that the average amount was $548 with a standard deviation of $129.He also found that 42 out of the 134 in the sample were from out-of-state suppliers.
-Find a 95% confidence interval for the total dollar value of these invoices.

• A)60,1704 ± 10258.15
• B)60,1704 ± 8168.36
• C)60,1704 ± 15987.64
• D)60,1704 ± 22481.79

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Definitions:

Responsibility Accounting

A system of accounting in which different sections of an organization are evaluated on the basis of their financial performance and managers are held accountable for operational results.

Lower-Level Managers

Managers who are at the first or second layer of the management hierarchy, typically responsible for overseeing the day-to-day operations and reporting to higher-level managers.

Summary Report

A summary report compiles and summarizes the key points and findings from detailed reports, providing an overview of the presented data.

Decentralization

The distribution of decision-making powers and authority away from a central location or authority to local or individual actors.