Meaning of example in “Extrapolating variables sampling results ..” section
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In the example, what does the sampling result mean to the auditor when auditing the $4.5 million and 4K customers accounts receivable balance?
Mean per unit — $4.8 million
Difference estimation — $4.9 million
Ratio method — $4.905 million
Are the customer accounts under valued?
What is audited value? How does $220,000 increase to $240,000?
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