1.The auditor is counting cash on hand. This is an example of: *

a.Inspection of tangible assets

b.Reperformance

c.Analytical procedure

d. Inspection of records and documents

2.Sale transaction happened on 25/12/2014 and was recorded on 3/1/2015. The company valuated the following assertion: *

a.Occurrence

b.Accuracy

c.Classification

d.Cutoff

3.Which of the following statements is most correct concerning audit risk? *

a.Audit risk can be eliminated by having the correct audit procedures

b.Audit risk can be quantified with a reasonable degree of certainty

c.Audit risk cannot be quantified with certainty

d.Audit risk is the same for all audit clients in the same industry

4.When the auditor uses tracing as an audit procedure for tests of transactions she is primarily concerned with which audit objective? *

a.Cutoff

b.Classification

c.Completeness

d.Occurrence