5) Audit procedures can result in significant, unexpected differences. The auditor should investigate further if 5) A) Significant differences are not expected but do exist Significant differences are Yes expected but do not exist No B) Significant differences are not expected but do exist Significant differences are expected but do not exist No No C) Significant differences are not Significant differences are expected but do exist expected but do not exist Yes Yes D) Significant differences are not Significant differences are expected but do exist expected but do not exist No Yes 6) Which of the following is not one of the major types of analytical procedures? 6) A) Compare client with industry averages. B) Compare client with budget. C) Compare client with prior year. D) Compare client with SEC averages. 7) "Physical examination" is the inspection or count by the auditor of items such as: 7) A) cash, inventory, canceled checks, and tangible fixed assets. B) cash, inventory, securities, notes receivable, and tangible fixed assets. C) cash, inventory, canceled checks, and sales documents. D) cash, inventory, and payroll timecards. 8) Audit evidence obtained directly by the auditor will not be reliable if: 8 ) A) the auditor lacks the qualifications to evaluate the evidence. B) it is impossible for the auditor to obtain additional supporting evidence. C) the client denies that it is authentic D) it is provided by the client's attorney