Questions from Auditing and Assurance

Q: The following questions deal with internal controls in the inventory and warehousing

The following questions deal with internal controls in the inventory and warehousing cycle and tests of details of balances for inventory. Choose the best response. a. Alpha Company uses its sales inv...

Q: Describe why transactions in the payroll and personnel cycle are generally more

Describe why transactions in the payroll and personnel cycle are generally more significant than payroll-related balance sheet accounts.

Q: The following questions concern auditing year-end cash and financial instruments

The following questions concern auditing year-end cash and financial instruments. Choose the best response. a. Which of the following controls would most likely detect a kiting scheme? (1) Preparing a...

Q: The following questions deal with operational auditing. Choose the best response

The following questions deal with operational auditing. Choose the best response. a. Which of the following best describes the operational audit? (1) It concentrates on seeking aspects of operations i...

Q: Define statistical attributes sampling. For which types of tests do auditors

Define statistical attributes sampling. For which types of tests do auditors use attributes sampling?

Q: The following questions concern the audit of accounts in the capital acquisition

The following questions concern the audit of accounts in the capital acquisition and repayment cycle. Choose the best response. a. Which of the following audit procedures would be most relevant when e...

Q: The following questions concern internal controls and tests for property, plant

The following questions concern internal controls and tests for property, plant, and equipment. Choose the best response. a. An audit firm performs a preliminary review of the client’s internal contro...

Q: The following questions concern engagements other than the audit of financial statements

The following questions concern engagements other than the audit of financial statements performed by accountants. Choose the best response. a. Which of the following is a prospective financial statem...

Q: The following questions concern internal controls and accumulating evidence in the acquisition

The following questions concern internal controls and accumulating evidence in the acquisition and payment cycle. Choose the best answer. a. While auditing a client’s purchase transactions, an auditor...

Q: The following questions concern contingencies, subsequent events, and communications with

The following questions concern contingencies, subsequent events, and communications with those charged with governance. Choose the best response. a. A client acquired 25 percent of its outstanding ca...