THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 23

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
An auditor,examining a total of 650 accounts receivable by a corporation,selected a random sample of 45 accounts.The sample mean is $108.34 and the sample standard deviation is $30.85.
-Find a 95% confidence interval for the total amount of the 800 accounts receivable.

• A)70,421 ± 3,836.24
• B)70,421 ± 4,589.73
• C)70,421 ± 2,057.41
• D)70,421 ± 5,657.48

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Definitions:

Provide Services

The act of performing tasks or duties for clients or customers, often in exchange for payment, that does not result in the production of physical goods.

Double-Declining-Balance Method

A form of accelerated depreciation where an asset loses value at twice the rate of the traditional straight-line method.

Depreciation

Methodically dividing the cost of a tangible asset throughout its effective life.

Residual Value

The estimated amount that an asset will be worth at the end of its useful life, after it has been fully depreciated.