The Audit Team Is Using Monetary Unit Sampling to Examine

question 56

Multiple Choice

The audit team is using monetary unit sampling to examine an entity's accounts receivable balance,which is recorded at $500,000.The team has determined the tolerable misstatement to be $25,000,the risk of incorrect acceptance to be 5 percent,and the expected misstatement to be 2 percent.Using the monetary unit sampling Sample Size table,what is the appropriate sample size?

• A)75
• B)162
• C)231
• D)300

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The periodic payment that the government makes to the holders of its debt securities, reflecting the cost of borrowing money.

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