Exam 7: Completing the Tests in the Acquisition and Payment Cycle: Verification of Selected Accounts, Audit of the Payroll and Personnel Cycle, Audit of the Inventory and Warehousing Cycle

Explore all topics

Which of the following type of employee typically does not complete time cards?

(Multiple Choice)

4.8/5

(35)

Question 21

What must auditors do to meet their obligations under professional auditing standards related to the observation of inventory?

(Essay)

4.9/5

(38)

Question 22

Any retirement savings deductions and other deductions are found on what form?

(Multiple Choice)

4.7/5

(29)

Question 23

Tests of payroll are usually not extensive because:

(Short Answer)

4.9/5

(40)

Question 24

Which of the following is not a generally recognized of inventory valuation method?

(Multiple Choice)

4.8/5

(44)

Question 25

When auditing the inventory and warehousing cycle, the use of analytical procedures is:

(Multiple Choice)

4.8/5

(35)

Question 26

What are the auditor's two main objectives in the audit of the ending balance in accumulated depreciation?

(Essay)

4.7/5

(39)

Question 27

What potential problems may arise when an auditor considers the relationship between payroll andinventory valuation?

(Short Answer)

4.8/5

(36)

Question 28

The physical counting of inventory may be performed at which of the following times?

(Short Answer)

4.9/5

(35)

Question 29

Which of the following audit objectives is not typically a major objective in the audit of current year fixed asset additions?

(Multiple Choice)

4.8/5

(39)

Question 30

One of the auditor's primary objectives when auditing manufacturing equipment is accuracy.

(True/False)

4.8/5

(41)

Question 31

Match each of the descriptions with the following terms -A document written in exchange for services received from an employee.

(Multiple Choice)

4.8/5

(38)

Question 32

Which of the following is not likely to be a test related to the audit of manufacturing equipment?

(Multiple Choice)

4.9/5

(38)

Question 33

Discuss the key internal controls over existing fixed assets that affect the auditor's extent of testing of fixed assets acquired in prior years.

(Essay)

4.9/5

(37)

Question 34

Match each of the descriptions with the following terms -A document indicating the time the hourly employee stated and stopped working.

(Multiple Choice)

5.0/5

(27)

Question 35

Why does the auditor not normally test the accuracy or classification of fixed assets recorded in prior periods?

(Essay)

4.9/5

(43)

Question 36

Which of the following expenses is not typically evaluated as part of the audit of the acquisition and payment cycle?

(Multiple Choice)

4.8/5

(40)

Question 37

Which of the following would be an appropriate initiation of a purchase requisition?

(Short Answer)

4.9/5

(35)

Question 38

Which of the following is not an advantage of using an imprest payroll account?

(Multiple Choice)

4.9/5

(35)

Question 39

Expense accounts analysis is closely related to tests of controls and substantive tests of transactions. The major difference is:

(Multiple Choice)

4.7/5

(39)

Question 40

Showing 21 - 40 of 61

Which of the following type of employee typically does not complete time cards?

What must auditors do to meet their obligations under professional auditing standards related to the observation of inventory?

Any retirement savings deductions and other deductions are found on what form?

Tests of payroll are usually not extensive because:

Which of the following is not a generally recognized of inventory valuation method?

When auditing the inventory and warehousing cycle, the use of analytical procedures is:

What are the auditor's two main objectives in the audit of the ending balance in accumulated depreciation?

What potential problems may arise when an auditor considers the relationship between payroll andinventory valuation?

The physical counting of inventory may be performed at which of the following times?

Which of the following audit objectives is not typically a major objective in the audit of current year fixed asset additions?

One of the auditor's primary objectives when auditing manufacturing equipment is accuracy.

Match each of the descriptions with the following terms -A document written in exchange for services received from an employee.

Which of the following is not likely to be a test related to the audit of manufacturing equipment?

Discuss the key internal controls over existing fixed assets that affect the auditor's extent of testing of fixed assets acquired in prior years.

Match each of the descriptions with the following terms -A document indicating the time the hourly employee stated and stopped working.

Why does the auditor not normally test the accuracy or classification of fixed assets recorded in prior periods?

Which of the following expenses is not typically evaluated as part of the audit of the acquisition and payment cycle?

Which of the following would be an appropriate initiation of a purchase requisition?

Which of the following is not an advantage of using an imprest payroll account?

Expense accounts analysis is closely related to tests of controls and substantive tests of transactions. The major difference is:

The Demand for Audit, Cpa Profession, Audit Reports and Other Assurance Services

Professional Ethics, Legal Liability, Audit Responsibilities and Objectives

Audit Evidence, Audit Planning, Analytical Procedures, Materiality and Risk

Internal Control, Control Risk, Section 404 Audits, Fraud Auditing, and the Impact of Information Technology on the Audit Process

Overall Audit Strategy, Audit Program, Audit of the Sales and Collection Cycle, Audit Sampling for Tests of Controls and Substantive Tests of Transactions

Completing the Tests in the Sales and Collection Cycle: Accounts Receivable, Audit Sampling for Tests of Details of Balances, and Audit of the Acquisition and Payment Cycle

Audit of the Capital Acquisition, Repayment, Audit of Cash and Financial Instruments, and Completing the Audit

Other Assurance Services, Internal and Governmental Financial Auditing and Operations Auditing

Filters