ACCT 444 Week 3 Quiz

ACCT 444 Week 3 Quiz

Author: sweeden jorgh

ACCT 444 Week 3 Quiz

Copy and Pate below link into your Browser to buy tutorial


ACCT 444 Week 3 Quiz

1. (TCO 6) Physical examination is the inspection or count by the auditor of items such as (Points : 3)

cash or inventory only.

cash, inventory, canceled checks, and sales documents.

cash, inventory, canceled checks, and tangible fixed assets.

cash, inventory, securities, notes receivable, and tangible fixed assets.

Chapter 7


1. (TCO 6) The distinction between physical examination of assets and examination of documents is dependent on the item being examined. If the object being examined has no inherent value, the evidence is called (Points : 3)


physical examination.


none of the above.

Chapter 7

1. (TCO 6) Which of the following statements regarding documentation is not correct? (Points : 3)

Documentation includes examining client records, such as general ledgers and supporting journals.

Internal documents are documents that are generated within the company and used to communicate with external parties.

External documents are documents that are generated outside of the company and are used to communicate the results of a transaction.

All of the above are correct statements

Chapter 7



2. (TCO 6) Which of the following is not a purpose of analytical procedures? (Points : 3)

Understand the client’s industry

Assess the client’s ability to continue as a going concern

Identify misstatements

Reduce detailed audit tests

Chapter 7


2. (TCO 6) Analytical procedures are (Points : 3)

diagnostic tests of financial information that may not be classified as evidential matter.

calculations of financial information made by a computer.

substantive tests of financial information made by a study and comparison of relationships among data.

statistical tests of financial information designed to identify areas requiring intensive investigation.

Chapter 7

2. (TCO 6) When analytical procedures reveal no unusual fluctuations, the implication is that (Points : 3)

there are no material errors or irregularities.

there are no material errors.

there are no material irregularities.

the possibility of a material error or irregularity is lessened.

Chapter 7



See More
Try a College Course Free

Sophia’s self-paced online courses are a great way to save time and money as you earn credits eligible for transfer to over 2,000 colleges and universities.*

Begin Free Trial
No credit card required

26 Sophia partners guarantee credit transfer.

226 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 21 of Sophia’s online courses. More than 2,000 colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.