You Are Assigned to Audit Accounts Payable for a Manufacturing

question 27

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 upper amount of the tolerable misstatement assuming the client booked an adjusting entry for the known errors (rounded) is:

• A) $5,241,687.
• B) $5,266,940.
• C) $5,141,940.
• D) $5,391,940.

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Definitions:

Sibling Relationships

The dynamic interactions and bonds between brothers and sisters, which can include aspects of rivalry, support, and companionship.

Death Of Parents

The event of losing one's mother, father, or both, often resulting in significant emotional and life changes.

Disrupted

Referring to an interruption or disturbance that stops a process, activity, or system from continuing as usual or as expected.

Loss Of A Child

The profound and often devastating experience of a parent or guardian enduring the death of their child.