An Auditor Wishes to Take a Sample to Verify the Accounts

question 34

Short Answer

An auditor wishes to take a sample to verify the accounts receivable balances for a company having 500 accounts.From past history,he knows that $\text { σ }$
is $102.49.What sample size must be taken to be 99% confident that the estimate will be within $10 of the true mean account balance?

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Definitions:

Social Issues

Problems that influence a considerable number of individuals within a society, often recognized as conditions that need to be addressed.

Social Change

The significant alteration of social structures and cultural patterns over time, which can result from various factors including technology, innovation, and collective behavior.

Religion

A set of beliefs concerning the cause, nature, and purpose of the universe, often involving ritual observances and a moral code governing the conduct of human affairs.

Historical Forces

Factors and events from the past that have a significant impact on the present and future course of society.