Using the inventory trial balance as an example, explain different techniques for selecting a sample of items for testing

Accounting Sep 18, 2020

Using the inventory trial balance as an example, explain different techniques for selecting a sample of items for testing. What are the advantages and disadvantages of each technique?

Using the allowance for doubtful accounts as an example, briefly explain the risk assessment procedures that would be performed on the accounting estimate.

Provide an example of (1) a factual misstatement and (2) a judgmental misstatement that could affect the balance of property, plant, and equipment