You Are Assigned to Audit Accounts Payable for a Manufacturing

question 5

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 amount of any additional adjustment required by the auditor (rounded) is:

• A) $0.
• B) $131,998.
• C) $6,998.
• D) $125,000.

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Definitions:

Facilitated Diffusion

The passive transport of ions or molecules by a specific carrier protein in a membrane. As in simple diffusion, net transport is down a concentration gradient, and no additional energy has to be supplied. Compare with diffusion and active transport.

Transmembrane Protein

A type of protein that spans across the lipid bilayer of cell membranes, facilitating various cellular functions including transport and signaling.

Concentration Gradient

The gradual difference in the concentration of solutes in a solution between two regions, often leading to diffusion from an area of higher concentration to lower concentration.

Electrochemical

Pertains to the branch of chemistry focused on the relationship between electrical and chemical phenomena, specifically, the movements of electrons and ions.