The auditor of Kent manufacturing Ltd has decided to use systematic selection of cash payments...
60.1K
Verified Solution
Link Copied!
Question
Accounting
The auditor of Kent manufacturing Ltd has decided to use systematic selection of cash payments when testing the control that cheque payments are supported by a suppliers invoice, a purchase requisition and a goods received note. Each cheque comprises a sampling unit. There are 2000 cheques drawn (numbered 12000) and the total amount of cash payments is $15 million. The sample size is 16 and the random start is 104. Given this information, the second item selected will be item no:
Select one:
a. Cheque number 1415.
b. Some other item number.
c. Cheque number 104.
d. Cheque number 229.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
