Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can someone please give the correct answers for the questions above 8-Management-report-owning-10-tractor totaling $500,000 of equipment. However, the auditor detemines that management actually owns 14
can someone please give the correct answers for the questions above
8-Management-report-owning-10-tractor totaling $500,000 of equipment. However, the auditor detemines that management actually owns 14 tractor trailers. Totaling $700,000 of equipment The assertion most violated is: (A) Existence (B)Completeness (C) Rights \& Obligations (D) Valuation \& Accuracy 9-Valuation is mast concerned with: (A)That the client owns the assets listed in the financial statements (B) That all transactions and events are reflected in the financial statements (C) That the financial statements are displayed in a manner that conforms with GAAP (D) None of the above 10-Carly's is auditing salaries expense for consulting firm. Materiality is $50,000. The client states they have issued 2,000 over-time checks to employees (for total expense of $2,000,000 ) but Carly finds they actually issued 1,500 over-time checks to employees ( for total expense of $1,500,000 ) Which assertion is most violated? a) Presentation \& Disclosure b) Existence c) Completeness d) Valuation 11-Holding all else constant, the relation between evidence sufficiency and evidence rellability is: a) Direct b) Linear c) Inverse d) None of the above 12- Pertains most the quality of audit evidence gathered a) Accuracy b) Sufficiency c) Appropriateness d) Unqualified / Unmodified opinion 13. Which of the following is not required before an auditor may rely upon the work of an internal auditor? a) Internal audit systematic b) Internal audit in complement c) Internal auditor in independent d) All of the above are required before an auditor may rely upon the wark of an intermal auditor 14-If the internal auditors report directly to the CFO this most violates: a) Systematic b) Oblectivity c) Competence d) Reperformance 15-On April 11, 2022 where would a copy of the company's org chart be started? a) Current flle b) Material file c) Temporary file d) Permanent fileStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started