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Sampling

Which balances would be in scope for testing?
1 and 2.
1, 2 and 3.
All balances.
4 and 5.
If the population of Sales Revenue was $10 million and the invoices tested summed $2 million but you identified $100,000 of misstatements in your testing - what would be the projected value of misstatements?
$100,000
$200,000
$400,000
$500,000
If you had $500,000 of projected misstatements and your acceptable tolerable misstatement was $400,000, what would you do?
Conclude that the test was effective.
Conclude that the test was ineffective but not perform any other testing.
Request management to adjust $100,000.
Request management to adjust $500,000.
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