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ACCT 444 Week 5 Quiz

ACCT 444 Week 5 Quiz

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ACCT 444 Week 5 Quiz

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ACCT 444 Week 5 Quiz

1. (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 (Points : 3)

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.

1. (TCO 6) Tests of controls may include which of the following types of evidence? (Points : 3)

Observation

Reperformance

Inquiries

All of the above

 

1. (TCO 6) For efficiency, tests of controls are frequently done at the same time as (Points : 3)

analytical procedures.

compliance tests.

tests of transactions.

tests of details of balances.

2. (TCO 6) Analytical procedures are defined in the auditing standards as (Points : 3)

compliance tests.

substantive tests.

tests of controls.

helpful procedures not possessing the validity of other tests available to the auditor.

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

Identify areas of potential misstatements.

Reduce detailed audit risk.

Understand the client’s business.

Identify specific errors in the accounts.

2. (TCO 6) Analytical procedures may be classified as being primarily (Points : 3)

tests of controls.

substantive tests.

tests of ratios.

tests of details of balances.


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