Using statistical sampling to assist in verifying the year -end accounts payable balance, and auditors has accumulated the following data: 11eb704e_ce9e_41bf_9ae9_3ba4951a0314_SM1546_00 Using the ratio estimation technique, the auditors' estimate of year -end accounts payable balance is a. $6,150,000. b. $6,000,000. c. $5,125,000. d. $5,050,000.

Auditing and Assurance Services 1st Edition by Iris Stuart

Edition 1ISBN: 978-0073404004

Auditing and Assurance Services 1st Edition by Iris Stuart

Edition 1ISBN: 978-0073404004

Exercise 5

Using statistical sampling to assist in verifying the year -end accounts payable balance, and auditors has accumulated the following data:

Using the ratio estimation technique, the auditors' estimate of year -end accounts payable balance is
a. $6,150,000.
b. $6,000,000.
c. $5,125,000.
d. $5,050,000.

Explanation

Verified

Audit:
The audit is defined as a system...