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Edwards has decided to use monetary-unit sampling in the audit of an entity's accounts receivable...

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Accounting

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Edwards has decided to use monetary-unit sampling in the audit of an entity's accounts receivable balance. Few, if any, misstatements of account balance overstatement are expected. Required: a. Identify the advantages of using monetary-unit sampling over classical variables sampling. b. Calculate the sample size and the sampling interval Edwards should use for the following information: c. Calculate the UML assuming that the following three misstatements were discovered in testing based on the MUS sample computed in part b

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