You Are Assigned to Audit Accounts Payable for a Manufacturing

question 16

Multiple Choice

You are assigned to audit accounts payable for a manufacturing client. As part of the planning, your manager sets a tolerable misstatement amount of+/- $125,000. Your review of unpaid invoices indicates an understatement error of $25,253 from a sample of $675,467. The population value of A/P is $5,241,687 at October 31st. The remaining unadjusted difference (rounded) is:

• A) $6,998.
• B) $150,253.
• C) $131,998.
• D) $12,998.

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Definitions:

Unsafe Conduct

Behavior or practices that pose a risk to health, safety, or well-being in a workplace or public setting.

Union Activities

Actions or events organized by labor unions, aimed at advocating for workers' rights, such as strikes, negotiations, or educational campaigns.

Terminate-At-Will

An employment arrangement where either the employer or employee can end the employment relationship without needing to provide a reason, subject to any legal restrictions.

Employee Rights

Legal or ethical entitlements associated with employment, including fair pay, safe working conditions, and freedom from discrimination or harassment.