The 10,000 Accounts Receivable of DEF Company Have a Total

question 39

Multiple Choice

The 10,000 accounts receivable of DEF Company have a total book value of $120,000.A CPA has selected and audited a sample of 100 accounts with a total book value of $1,000 and an audited value of $1,200. Using the mean-per-unit estimation technique,the estimated total audited value of the population is:

• A)$100,000.
• B)$120,000.
• C)$140,000.
• D)$144,000.

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Definitions:

Federal Policy

A set of principles and laws formulated by the national government that guide decision-making and influence the country's direction.

Rufus Saxton

A Union Army general during the American Civil War known for his efforts to aid freed slaves and enforce policies of land redistribution.

Legal Title

A formal recognition or designation that establishes ownership or an official position within a legal framework.

Preliminary Emancipation Proclamation

An executive order issued by President Abraham Lincoln in 1862 during the American Civil War that declared the freedom of all enslaved people in Confederate-held territory starting January 1, 1863.