An auditor uses nonstatistical ratio estimation to evaluate the results of a sample. The population...
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Accounting
An auditor uses nonstatistical ratio estimation to evaluate the results of a sample. The population book value was $2,000,000 and contained 350 items. The auditor selected 100 items with a book value of $500,000. The audited value of the sample was $480,000. The estimated audited value of the population is:
a. $1,980,000.
b. $1,930,000.
c. $1,920,000.
d. $1,900,000.
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