1.Review engagement standards indicate that review work should consist primarily of which of the following activities?

1. Inquiry and confirmation
2. Analytical review and inspection
3. Confirmation and observation
4. Inquiry and analytical review

2.If the AAA company reports a $153,000 balance of accounts receivable, the existence assertion means

a.there are no accounts receivable by AAA that have not been included in the balance

b.all the amounts making up the $153,000 balance will be collected in full, in cash

c. all the amounts included in the $153,000 balance represent valid sales on account that are still outstanding and due to the company

d.the receivables have not been sold to another company

3.Which of the following control objectives is associated with selecting a sample of inventory receiving reports and tracing them to the entry of receipt on the perpetual inventory record?

Completeness

Authorization and completeness

Authorization

Validity