An Accounts Receivable Account Balance Is $500,000 and the Auditor

question 17

Multiple Choice

An accounts receivable account balance is $500,000 and the auditor determines a sample size of 30 would provide adequate assurance. The auditor plans to use a monetary-unit sampling plan with systematic sample selection. The auditor notices that there are six customer accounts of at least $15,000 and would like the systematic selection technique to select all items that are at least $15,000, even if that means the sample size is slightly larger than 30. To achieve the auditor's objectives, the sampling interval should be:

• A)6)
• B)20.
• C)16,666.
• D)15,000.

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Definitions:

Attachment

An emotional bond that forms between individuals, crucial for personal development, and originated in early childhood.

Patterns of Attachment

The characteristic ways in which individuals relate to others, especially in the context of intimate and caregiving relationships, determined early in life and influencing subsequent relationships.

Infants

Young children from birth to one year of age, characterized by rapid physical, cognitive, and social development.

Cognitive Development

The study of how thinking, problem solving, and reasoning skills evolve through childhood and adolescence.