Further audit procedures include: \(\begin{array}{lll}&\text { Risk assessment procedures }&\text { Tests of controls }\\ \text { A. } & \text { Yes } & \text { Yes } \\ \text { B. } & \text { Yes } & \text { No } \\ \text { C. } & \text { No } & \text { Yes } \\ \text { D. } & \text { No } & \text { No } \end{array}\)

A) Option A B) Option B C) Option C D) Option D A) Option A B) Option B C) Option C D) Option D

Exam 5: Audit Evidence and Documentation

For each of the audit procedures listed below select the type of audit procedure,if any,that the auditor performed.A type of audit procedure may be selected once or not at all. -The auditor sent a letter to the company's outside attorney accompanied by management's request for information concerning pending or threatened litigation,claims,and assessments.

(Multiple Choice)

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Question 41

For each of the audit procedures listed below select the type of audit procedure,if any,that the auditor performed.A type of audit procedure may be selected once or not at all. -The auditor scanned the repairs and maintenance account for unusually large amounts.

(Multiple Choice)

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Question 42

The auditors should propose an adjusting journal entry for all material related-party transactions.

(True/False)

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Question 43

Which of the following is the most accurate statement regarding audit evidence?

(Multiple Choice)

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Question 44

The internal control flowchart is an example of:

(Multiple Choice)

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Question 45

The management representation letter date should coincide with the:

(Multiple Choice)

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Question 46

Which of the following is not a financial statement assertion relating to account balances?

(Multiple Choice)

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Question 47

Which of the following statements regarding audit evidence is generally correct?

(Multiple Choice)

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Question 48

Which of the following is not an assertion relating to classes of transactions?

(Multiple Choice)

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Question 49

Audit documentation is intended to allow ________ to understand the audit work performed,the evidence obtained,and the significant conclusions.

(Multiple Choice)

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Question 50

Which of the following best describes the reason that auditors are concerned with the detection of related party transactions?

(Multiple Choice)

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Question 51

Audit working papers are an integral part of an examination in accordance with generally accepted auditing standards. a.Describe three major functions of the audit working papers. b.Distinguish between the permanent working paper file and the current working paper file.

(Essay)

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Question 52

The professional standards consider calculating depreciation expense a "routine" transaction.

(True/False)

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Question 53

An auditor is performing an analytical procedure that involves developing common-size financial statements.This technique is referred to as:

(Multiple Choice)

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Question 54

Management is concerned about the lower level of profitability in the Mid-Central Region.Which of the following would be a reasonable possible explanation(s)of the lower profitability for the Mid-Central Region? I.The lower number of stores in the Mid-Central Region. II)Sales employees are not as productive in generating sales as those in other regions. III)The Mid-Central Region has a lower gross margin.

(Multiple Choice)

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Question 55

Further audit procedures include: Risk assessment procedures Tests of controls A. Yes Yes B. Yes No C. No Yes D. No No

(Multiple Choice)

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Question 56

Examination of large data sets to uncover hidden patterns is often referred to as:

(Multiple Choice)

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Question 57

An auditor is performing an analytical procedure that involves comparing a client's account balances over time.This technique is referred to as:

(Multiple Choice)

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Question 58

Which of the following is most consistent with an increase in the ratio of debt to equity?

(Multiple Choice)

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Question 59

Which of the following best describes the problem with the use of published industry averages for analytical procedures?

(Multiple Choice)

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Question 60

Showing 41 - 60 of 92

For each of the audit procedures listed below select the type of audit procedure,if any,that the auditor performed.A type of audit procedure may be selected once or not at all. -The auditor scanned the repairs and maintenance account for unusually large amounts.

The auditors should propose an adjusting journal entry for all material related-party transactions.

Which of the following is the most accurate statement regarding audit evidence?

The internal control flowchart is an example of:

The management representation letter date should coincide with the:

Which of the following is not a financial statement assertion relating to account balances?

Which of the following statements regarding audit evidence is generally correct?

Which of the following is not an assertion relating to classes of transactions?

Audit documentation is intended to allow ________ to understand the audit work performed,the evidence obtained,and the significant conclusions.

Which of the following best describes the reason that auditors are concerned with the detection of related party transactions?

Audit working papers are an integral part of an examination in accordance with generally accepted auditing standards. a.Describe three major functions of the audit working papers. b.Distinguish between the permanent working paper file and the current working paper file.

The professional standards consider calculating depreciation expense a "routine" transaction.

An auditor is performing an analytical procedure that involves developing common-size financial statements.This technique is referred to as:

Further audit procedures include: Risk assessment procedures Tests of controls A. Yes Yes B. Yes No C. No Yes D. No No

Examination of large data sets to uncover hidden patterns is often referred to as:

An auditor is performing an analytical procedure that involves comparing a client's account balances over time.This technique is referred to as:

Which of the following is most consistent with an increase in the ratio of debt to equity?

Which of the following best describes the problem with the use of published industry averages for analytical procedures?

The Role of the Public Accountant in the American Economy

Professional Standards

Professional Ethics

Legal Liability of Cpas

Audit Planning, understanding the Client, assessing Risks, and Responding

Internal Control

Consideration of Internal Control in an Information Technology Environment

Audit Sampling

Cash and Financial Investments

Accounts Receivable, notes Receivable, and Revenue

Inventories and Cost of Goods Sold

Property,plant,and Equipment: Depreciation and Depletion

Accounts Payable and Other Liabilities

Debt and Equity Capital

Auditing Operations and Completing the Audit

Auditors Reports

Integrated Audits of Public Companies

Additional Assurance Services: Historical Financial Information

Additional Assurance Services: Other Information

Internal, operational, and Compliance Auditing

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