Explain the advantages and disadvantages of using probability-proportionate-to-size sampling when testing the existence of accounts receivable.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing A Practical Approach with Data Analytics

ISBN: 978-1119401742

1st edition

Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton

See More Books

Question Posted: Jan 01, 2020 05:11 AM

See More Questions

Explain the advantages and disadvantages of using crowd-funding.
Successful project managers are those who have a unique focus that is shaped by the organization's strategic goals, resources, and schedules. They can expertly manage a program of projects by looking...
Explain the advantages and disadvantages of using total-package final offer selection and item-by-item final offer selection.
In an effort to check the quality of their cell phones, a manufacturing manager decides to take a random sample of 10 cell phones from yesterdays production run, which produced cell phones with...
Assume a company just sold 15,000, 000 shares in an IPO for $12 per share. If the underwriter took a 5% fee, and the company incurred $450,000 in legal and consulting costs: a. What net proceeds did...
For a standard normal distribution, determine the following: a. P1z 1.502 b. P1z -1.222 c. P1 -0.86 z 1.762 d. P10.32 z 2.152 AppendixLO1
10. Does the kiddie tax apply to all children no matter their age? Explain.
Bonanza Inc. (Bonanza) is a small manufacturer of home environmental products such as humidifiers, air cleaners, and ionizers. Bonanza's products are sold in retail stores across Canada and in the...
Which of the following statements about major funds is true ? Major funds are determined based on the size of the fund or management discretion. Major funds are reported only in governmental fund...
Davison Electronics manufactures two models of LCD televisions, identified as model A and model B. Each model has its lowest possible production cost when produced on Davison's new production line....
Explain the advantages and disadvantages of using nonstatistical sampling when testing the existence of accounts receivable.
Explain the importance of determining the appropriate audit procedure to perform. What is the risk if the audit procedure is not appropriate for the assertion being tested? Does this step relate to...
A homeowner is told that she must increase the height of her fences 37% if she wants to keep the deer from jumping in to eat the foliage and blossoms. If the current fence is 1.8 m high, how high...
In 2022, Andrew, who is single, has a comfortable salary from his job as well as income from his investment portfolio. However, he is habitually late in filing his federal income tax return. He did...
1. What is the cost of direct materials used? 2. What is the cost of indirect materials used? 3. What is the cost of direct labour? 4. What is the cost of indirect labour? 5. What is the cost of...
Finding Critical Values. In Exercises 5-8, find the critical value za/2 that corresponds to the given confidence level. 5. 90% 6. 99%
You are an attorney at the law firm that represents Danfield's Auto Express. Your supervisor, Attorney Donna Defense, wants you to draft an internal memorandum of law to her assessing whether or not...
I desperately need help in this assignment, please help me!! Case Study Assignment You have recently been recruited by Velvet Chocolates Lid, a chocolate manufacturer, as an assistant management...
Refer to Exercises 86 and 88. a. Explain one disadvantage of using = 0.10 instead of = 0.05 when performing the test. b. Explain one disadvantage of taking a random sample of 50 people instead of...
When an electric field is applied to a shallow bath of vegetable oil, why do tiny bits of thread floating in the oil align with the field like compasses in a magnetic field?
In your own words, explain why the book suggests that you should think of marketing strategy planning as a narrowing-down process.
Explain the major differences among the four basic types of growth opportunities discussed in the text and cite examples for two of these types of opportunities.
Explain why a firm may want to pursue a market penetration opportunity before pu r suing one involving product development or diversification.
GM has a current stock price of $97.88. If they issued a dividend of $3.18 last week, and the dividend is projected to grow at 4.9% what is the cost of equity capital for GM? Please provide all...
Show your work Has anything similar to Earth's weather patterns been seen on other planets
I am struggling to answer the rest of REQUIREMENTS 5-9. Please assist if possible. I have included an example of a worked-out problem for a reference and then under I will post my actual problem that...

Explain the advantages and disadvantages of using probability-proportionate-to-size sampling when testing the existence of accounts receivable.

Question:

Step by Step Answer:

The advantages of PPS sampling are It is generally easier to use than classical variables sampling because the auditor can calculate sample sizes and ...View the full answer

Auditing A Practical Approach with Data Analytics

Students also viewed these Business questions