Question 1

Which of the following is not a part of analytical procedures?

Accepted Answer

A) System Analysis 
B) Economic Analysis 
C) Regression Analysis 
D) Predictive Analysis 
A) System Analysis 
B) Economic Analysis 
C) Regression Analysis 
D) Predictive Analysis

Question 2

This method of sampling is also called probability proportionate to size (PPS) sampling

Accepted Answer

A) Block Selection 
B) Random Sampling 
C) Stratified Sampling 
D) Monetary Unit Sampling 
A) Block Selection 
B) Random Sampling 
C) Stratified Sampling 
D) Monetary Unit Sampling

Question 3

When you are finding out the inventory-turnover ratio, you are doing

Accepted Answer

A) Comparison across components 
B) Comparison involving a single component 
C) Regression analysis 
D) Economic analysis 
A) Comparison across components 
B) Comparison involving a single component 
C) Regression analysis 
D) Economic analysis

Question 4

For accounts prepared on cash basis, in respect of gross receipts/expenditure, materiality percentage would be

Accepted Answer

A) For very sensitive accounts - 1 %, sensitive accounts - 1% to 2% and non sensitive accounts - 5% 
B) For very sensitive accounts - 1/2 %, sensitive accounts - 1/2% to 2% and non sensitive accounts - 2% 
C) For very sensitive accounts - 2 %, sensitive accounts - 5% and non sensitive accounts - 8% 
D) none of these 
A) For very sensitive accounts - 1 %, sensitive accounts - 1% to 2% and non sensitive accounts - 5% 
B) For very sensitive accounts - 1/2 %, sensitive accounts - 1/2% to 2% and non sensitive accounts - 2% 
C) For very sensitive accounts - 2 %, sensitive accounts - 5% and non sensitive accounts - 8% 
D) none of these

Question 5

Sampling interval is calculated in this kind of sampling

Accepted Answer

A) Simple Random Sampling 
B) Systematic Sampling 
C) Stratified Sampling 
D) All of the above 
A) Simple Random Sampling 
B) Systematic Sampling 
C) Stratified Sampling 
D) All of the above

Which of the following is not a part of analytical procedures?

This method of sampling is also called probability proportionate to size (PPS) sampling

When you are finding out the inventory-turnover ratio, you are doing

For accounts prepared on cash basis, in respect of gross receipts/expenditure, materiality percentage would be

Sampling interval is calculated in this kind of sampling

Understanding Financial Audit and Standards for Auditors

Government Accounts and Audit Procedures

Understanding Auditing Processes and Tools

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Exam 2: Auditing and Sampling Techniques

Which of the following is not a part of analytical procedures?

This method of sampling is also called probability proportionate to size (PPS) sampling

When you are finding out the inventory-turnover ratio, you are doing

For accounts prepared on cash basis, in respect of gross receipts/expenditure, materiality percentage would be

Sampling interval is calculated in this kind of sampling

Understanding Financial Audit and Standards for Auditors

Government Accounts and Audit Procedures

Understanding Auditing Processes and Tools

Filters