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You have decided to use monetary unit sampling in the audit of a client's accounts receivable balance. Few, if any, misstatements of account balances are

You have decided to use monetary unit sampling in the audit of a client's accounts receivable balance. Few, if any, misstatements of account balances are expected. a. Identify the advantages of using MUS over classical variables sampling. b. Calculate the sample size and sampling interval you should use for the following information: Tolerable misstatement = $15,000 Expected misstatement = $6,000 Desired Confidence Level = 95% Recorded amount of accounts receivable = $300,000

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