Questions from Auditing and Assurance

Q: The following are common tests of details of balances or substantive analytical

The following are common tests of details of balances or substantive analytical procedures for the audit of accounts receivable: 1. Select 20 customer accounts from the accounts receivable master file...

Q: You are planning to use nonstatistical sampling to evaluate the results of

You are planning to use nonstatistical sampling to evaluate the results of accounts receivable confirmation for the Meridian Company. You have already performed tests of controls for sales, sales retu...

Q: You are evaluating the results of a nonstatistical sample of 85 accounts

You are evaluating the results of a nonstatistical sample of 85 accounts receivable confirmations for the Bohrer Company. Information on the sample and population are included below. Tolerable misstat...

Q: The following are the nine balance-related audit objectives, seven

The following are the nine balance-related audit objectives, seven tests of details of balances for accounts receivable, and six tests of controls or substantive tests of transactions for the sales an...

Q: Describe the five Trust Services categories.

Describe the five Trust Services categories.

Q: Makoto Auto Parts sells new parts for foreign automobiles to auto dealers

Makoto Auto Parts sells new parts for foreign automobiles to auto dealers. Company policy requires that a prenumbered shipping document be issued for each sale. At the time of pickup or shipment, the...

Q: Questions 1 through 9 are typically found in questionnaires used by auditors

Questions 1 through 9 are typically found in questionnaires used by auditors to obtain an understanding of internal control in the acquisition and payment cycle. In using the questionnaire for a clien...

Q: The following audit procedures are included in the audit program for the

The following audit procedures are included in the audit program for the audit of the financial statements of Golden State Overnight Express: 1. Select a sample of acquisitions from the acquisitions j...

Q: The Broughton Cap Company requires that prenumbered receiving reports be completed when

The Broughton Cap Company requires that prenumbered receiving reports be completed when purchased inventory items arrive in the receiving department. At the time of receipt, the receiving clerk writes...

Q: Assume you performed sampling for an accounts receivable population with a recorded

Assume you performed sampling for an accounts receivable population with a recorded population amount of $2,000,000. Tolerable misstatement is set at $100,000 for the test, and there are no individual...