1.Which of the fivebalance-relatedaudit objectives is the auditor testing in the following procedure?

"Comparing the cost of a sample of inventory items to the price they can be sold for, less any selling costs, (i.e. commissions, shipping costs)".

Question 39 options:

Accuracy

Rights & Obligations

Allocation

Valuation

2.The following are part of the internal control questionnaire the auditor uses to obtain evidence in the sales and collection cycle. Which of the fivetransaction-related audit objectivesis the auditor seeking evidence on for the following?

"Sales are recorded on the correct dates/period".

Question 36 options:

Existence

Completeness

Classification

Cutoff

3.The following are part of the internal control questionnaire the auditor uses to obtain evidence in the sales and collection cycle. Which of the fivetransaction-related audit objectivesis the auditor seeking evidence on for the following?

"Recorded sales are for shipments actually made to existing customers".

Question 35 options:

Occurrence

Rights & Obligations

Completeness

Cutoff

3.If a third-party claims that your audit engagement involved the audit of work that you were part of in redesigning and updating the computer software that accumulates sales and expenditure data, you are being questioned on which of the five threats of independence?

Question 33 options:

Self-interest

Detection risk threat

Self-review

Threat of illegal activity