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ASHA 777 [7]
3 years ago
11

The 4,000 accounts receivable of Miller Company have a total book value of $150,000. A CPA has selected and audited a sample of

100 accounts with a total book value of $3,700 and an audited value of $3,800. Using the difference estimation technique, estimated total audited value of the population is:________
a. $150,000.
b. $152,000.
c. $154,000.
d. $154,054.
Business
1 answer:
Dmitriy789 [7]3 years ago
3 0

Answer:

c. $154,000.

Explanation:

According to the difference value technique, the average difference between audited value and book value for the sample should be replicated for the whole population of 4,000 accounts. The average difference per account is:

D=\frac{\$3,800-\$3,700}{100}\\D=\$1

This means that the audited value is $1 greater than the book value for each account, assuming 4,000 accounts with a book value of $150,000, the audited value is:

A = \$150,000+\$1*4,000\\A=\$154,000

Estimated total audited value of the population is: c. $154,000.

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Which of the following is NOT a characteristics of good application?
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Answer:

C. completed quickly

Explanation:

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Indicate whether each of the following transactions represents an increase in net exports, a decrease in net exports, an increas
Alborosie

Answer:

Net export decreases and net capital outflow decreases

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Net export increases and net capital outflow increases

Explanation:

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Import would comprise of foreign produced goods and services that are been sold in the US

Net export would increase when export occurs and decrease when import occurs

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2 years ago
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mixer [17]

Answer:

d. at least two different markets with different price elasticities of demand

Explanation:

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