ACCT444 Week 5 Quiz Latest 2017
Question
Question 1
3 / 3 pts
(TCO 6) The auditor looks for an indication on duplicate sales invoices to see whether the invoices have been verified. This is an example of
a test of details of balances.
a test of control.
a substantive test of transactions.
both a test of control and a substantive test of transactions.
Question 2
3 / 3 pts
(TCO 6) Analytical procedures XXX defined in the auditing standards as
XXXXXXXXXX tests.
substantive XXXXX.
XXXXX of XXXXXXXX.
XXXXXXX XXXXXXXXXX not XXXXXXXXXX the XXXXXXXX of other XXXXX XXXXXXXXX XX XXX auditor.
XXXXXXXX 3
X / 3 pts
(XXX 6) Which of XXX following audit XXXXX is usually the most costly XX perform?
Analytical procedures
XXXXX of controls
XXXXX of balances
Substantive XXXXX XX transactions
XXXXXXXX X
X / X XXX
(TCO X) Which XX XXX following represents an incorrect pairing of a XXXX XX audit test and evidence?
XXXXXXXXXX XX obtain an XXXXXXXXXXXXX XX internal controls—documentation
Analytical XXXXXXXXXX—XXXXX analysis
XXXXXXXXXXX tests of transactions—confirmation
XXXXX XX XXXXXXX XX XXXXXXXX—XXXXXXXX examination
Question X
3 / X pts
(TCO 6) XXX purpose of tests of controls is XX XXXXXXX reasonable assurance XXXX the
XXXXXXXXXX treatment XX XXXXXXXXXXXX XXX XXXXXXXX XX valid and proper.
XXXXXXXX control procedures XXX XXXXXXXXXXX XX XXXXXXXX.
XXXXXX XXX XXXXXXXX XXXX GAAP XXXXXXXXXX XXXXXXXXXXXX.
XXXXXX has XXXXXXXX XXXX requirements of XXXXXXX XXXXXXX.
XXXXXXXX 6
X / X XXX
(TCO X) It is XXXXXXXXX XXXX XXXXX be XXXXXX and recorded in the journal as soon as XXXXXXXX after
XXX order is XXXXXXXX.
the order is received and credit XX XXXXXXXX.
credit is XXXXXXXX and it XX XXXXXXXX XXXX XXXXX is enough inventory to XXXX the order.
XXX XXXXXXXX XXXXX XXXXX.
XXXXXXXX 7
3 / 3 XXX
(TCO X) Which one of XXX following is not an XXXXXXX's concern about a key XXXXXXXXXXXXX XXXXX in the XXXXX or collection XXXXX?
The XXXXXXXXX room must XXXX authorization before XXXXXXXXX XXXXX to inventory control.
XXXXXX XXXX XX authorized XXXXXX the sale.
Goods must XX XXXXXXX after the XXXXXXXXXXXXX.
Prices XXXX be XXXXXXXXXX.
XXXXXXXX X
X / X pts
(XXX X) To XXXXXXX good internal control, which XXXXXXXXXX should XXXXXXX the activities XX XXXXXXXX shipping documents XXXX XXXXX XXXXXX XXX preparing daily sales summaries?
Billing
XXXXXXXX
Credit
Payables
XXXXXXXX X
X / 3 pts
(XXX 9) When designing XXXXXXXXXXX tests of XXXXXXXXXXXX for XXXXX, XXX auditor XX XXXXXXXXX XXXX the XXXXXXXXXXX of several types XX XXXXXXXXXXXXX. XXXXX XX XXX XXXXXXXXX is XXX XXX XX the XXXXX XX these XXXXXXXXXXXXX?
Sales being included in the journal XXX XXXXX XX XXXXXXXX was XXXX
XXXXX to XXXXXXX parties, such XX XXXXXXXX XXX subsidiaries
Sales XXXXXXXX more XXXX once
XXXXXXXXX being made to XXXXXXXXXXX XXXXXXXXX and recorded as XXXXX
Question XX
3 / 3 pts
(TCO 9) X key internal control in the XXXXX XXX XXXXXXXXXX XXXXX is XXX XXXXXXXXXX XX duties XXXXXXX cash XXXXXXXX and record keeping. The XXXXXXXXX most directly XXXXXXXXXX with XXXX XXXXXXX XX to verify that
cash XXXXXXXX XXXXXXXX in XXX XXXX receipts XXXXXXX are reasonable.
cash XXXXXXXX XXX properly classified.
XXXXXXXX XXXX receipts result from legitimate transactions.
existing cash receipts XXX recorded.
XXXXXX
1. test XX control.
2. XXXXXXXXXXX tests.
X. XXXXX XX XXXXXXXX
4. XXXXXXXXXXX XXXXX XX XXXXXXXXXXXX—confirmation
5. internal XXXXXXX XXXXXXXXXX XXX functioning XX intended.
X. XXX shipment XXXXX place.
X. The XXXXXXXXX XXXX must have authorization XXXXXX releasing items XX XXXXXXXXX XXXXXXX.
8. XXXXXXX
9. XXXXX XX XXXXXXX XXXXXXX, such XX officers and subsidiaries
XX. XXXXXXXX XXXX XXXXXXXX are recorded.
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