In a Monetary-Unit Sample with a Sampling Interval of $10,000

question 23

Multiple Choice

In a monetary-unit sample with a sampling interval of $10,000, an auditor discovered that a selected account receivable with a recorded amount of $5,000 had an audit amount of $2,000. The projected misstatement of this sample was

• A) $3,000.
• B) $4,000.
• C) $6,000.
• D) $8,000.
• The misstatement amount is 60% with a taint of .60 of the book value of the selected item. The taint is applied to the sampling interval to determine the projected misstatement for the account. The projected misstatement would be $6,000 ($10,000 x .60).

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Definitions:

Caring Attitude

An approach that embodies compassion, concern, and consideration for others, showing support and understanding in a healthcare context.

Client's Crying

An emotional response or manifestation of feelings of distress, sadness, or joy in a therapeutic or caregiving environment.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment, crucial in problem solving and decision-making processes.

Reasoned Thought

The process of thinking about something in a logical, sensible way, often involving critical evaluation.