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ACC555 Final Exam

A final exam evaluating knowledge of advanced accounting principles.

Sofia Rivera
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ACC555 FINAL EXAM1. The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA hasselected and audited a sample of 100 accounts with a total book value of $1,000 and an audited value of$1,200.Using the ratioestimation technique, the estimated total audited value of the population is:A. $100,000.B. $120,000.C. $140,000.D. $144,0002.The 10,000 accounts receivable of DEF Company have a total book value of $120,000. A CPA hasselected and audited a sample of 100 accounts with a total book value of $1,000 and an audited value of$1,200.Using the mean-per-unit estimation technique, the estimated total audited value of the population is:A. $100,000.B. $120,000.C. $140,000.D. $144,000.3.Using the mean-per-unit estimation method an auditor has properly calculated the estimated totalaudited value of a population as $200,000. Her sample included 200 of the population's 40,000 items. Shefound that, in her sample the average audited value was $1 less than the average book value. What wasthe average audited value in the sample?A. $4.B. $5.C. $6.D. $10.4.Using difference estimation, an auditor has taken a sample of 200 from a population's 40,000 items;that population has a book value of $200,000. She found that in her sample the average audited value was$4.20, while the average book value was $5.20. What is the estimated total audited value of thepopulation?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 40,000 items; thatpopulation has a book value of $200,000. She found that in her sample the average audited value was$4.20, while the average book value was $5.20. What is the estimated total audited value of thepopulation?A. $160,000.B. $161,538.C. $168,000.D. $200,000.

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Document Details

University
Strayer University
Course
ACC 555
Subject
Accounting

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