You Are Assigned to Audit Accounts Payable for a Manufacturing

question 22

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 estimate of true balance(rounded) is:

• A) $5,398,938.
• B) $5,266,940.
• C) $5,391,940.
• D) $5,241,940.

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Definitions:

RNA Viruses

Viruses that have RNA (ribonucleic acid) as their genetic material and rely on a host cell for replication.

DNA Polymerase

An enzyme that synthesizes DNA molecules from their nucleotide building blocks, essential for DNA replication.

Icosahedron

A geometric shape with 20 faces, each of which is an equilateral triangle.

Polyhedral

A shape that has many faces, typically referring to solids in geometry such as cubes or pyramids.