32. T/F- The use of negative accounts receivables confirmations most likely would be appropriate when internal control over receivables is strong and inherent risk and control risk have been assessed at a high level.

33. If mickey mouse were performing the White Glove Test to identify obsolete or slow- moving inventory, how many fingers at most could he use if he were using only his right hand:

a. 2

b. 3

c. 4

d. 5

34. If the auditor traces tagged to the inventory listing, the auditor is testing for which assertion:

a. existence or occurrence

b. completeness

c. presentation and disclosure

d. Both a and b

35. T/F- In compiling financial statements of a nonissuer, the CPA should read the financial statements to see if there are obvious material misstatements.

36. Inquires about subsequent events would normally be made during which of the following services:

a. Audit

b. review

c. compilation

d. all of the above

e. audit and review