Answer:
.18
Step-by-step explanation:
77 x .24% (0.0024) = .1848
Round to the nearest hundredth...
.18!
Answer: Approximately 79 Percent
Step-by-step explanation:
The confidence level used in this estimation is approximately 79 percent.
Answer:
Step-by-step explanation:
The sampling unit is the population item from which the auditor selects sample items. The major consideration in defining the sampling unit is making it consistent with the objectives of the audit tests. Thus, the definition of the population and the planned audit procedures usually dictate the appropriate sampling unit.
The sampling unit for verifying the existence of recorded sales would be the entries in the sales journal since this is the record the auditor wishes to validate.
The sampling unit for testing the possibility of omitted sales is the shipping document from which sales are recorded because the failure to bill a shipment is the exception condition of interest to the auditor.