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ACC555 Final Exam

Final exam covering advanced accounting principles.

Sofia Rivera
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ACC555Final Exam1.The 10,000 accounts receivable of DEF Company have a total book value of $120,000.A CPA has selected and audited a sample of 100 accounts with a total book value of $1,000 andan audited value of $1,200.Using theratio estimation technique, the estimated total audited value of the population is:A.$100,000.B.$120,000.C.$140,000.D.$144,0002The 10,000 accounts receivable of DEF Company have a total book value of $120,000.A CPA has selected and audited a sample of 100 accounts with a total book value of $1,000 andan audited value of $1,200.Using the mean-per-unit estimation technique, the estimated total audited value of the populationis:A.$100,000.B.$120,000.C.$140,000.D.$144,000.3Using the mean-per-unit estimation method an auditor has properly calculated theestimated total audited value of a population as $200,000. Her sample included 200 of thepopulation's 40,000 items. She found that, in her sample the average audited value was $1 lessthan the average book value. What was the average audited value in the sample?A.$4.B.$5.C.$6.D.$10.4Using difference estimation, an auditor has taken a sample of 200 from a population's40,000 items; that population has a book value of $200,000. She found that in her sample theaverage audited value was $4.20, while the average book value was $5.20. What is the estimatedtotal audited value of the population?A.$160,000.B.$161,538.C.$168,000.D.$200,000.5.Using ratio estimation, an auditor has taken a sample of 200 from a population's 40,000items; that population has a book value of $200,000. She found that in her sample the averageaudited value was $4.20, while the average book value was $5.20. What is the estimated totalaudited value of the population?

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Document Details

University
Strayer University
Course
ACC 555
Subject
Accounting

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