Business, 10.04.2022 23:00 andrewcamp99

Question 3 (3 marks): Audit Sampling The account receivables population for Albert Company as following:

Population Item Recorded Amount
1 300
2 655
3 150
4 455
5 45
6 1017
7 567
8 2017
9 368
10 2000
11 78
12 200
13 60000
14 1123
15 68

Required:
1. Select a random sample of 5 items from population, using monetary unit sampling with random number table. Use the starting point of line 08, column 01. Without replacement in sample selection. Describe the advantages and disadvantages of using monetary unit sampling with random number table.
2. Select a random sample of 4 items from population, using monetary unit sampling with systematic selection. Use the starting point of 515. Without replacement in sample selection. Describe the advantages and disadvantages of using monetary unit sampling with systematic selection.

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Question 3 (3 marks): Audit Sampling The account receivables population for Albert Company as foll...

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