Multiple Choice
'While auditing James Ltd, you find that their inventory turnover has decreased from 7.8 times to 5.4 times during the year.Based on this decrease, which financial report assertion would you be least concerned with?
A) Existence.
B) Rights and obligations.
C) Valuation and allocation.
D) Completeness.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Which of the following is the best
Q5: An auditor would be least likely to
Q6: Which assertion for ending inventory is most
Q7: Which of the following is an exception
Q8: An aged trial balance of accounts receivable
Q9: In the audit of Cassie Ltd, a
Q11: An auditor using audit software would probably
Q12: All of the following evidence-gathering procedures can
Q13: Once an auditor has determined that accounts
Q15: A normal audit procedure is to analyse