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Audits. Between quarterly audits, a company checks its accounting procedures to detect problems before they become serious. The accounting staff processes payments on about 120 orders each day. The next day a supervisor checks 10 of the transactions to be sure they were processed properly.

(a) Propose a sampling strategy for the supervisor.

(b) How would you modify the sampling strategy if the company makes both wholesale and retail sales that require different boookkeeping procedures?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9965913

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