Could you please answer these 20 multiple questions

1.Which of the following clients and accounts would be suitable for the use of regression analysis: (Several choices may be correct.)

E. Wages expense for a population of telephone agents in a large call centre.

A. A construction company that specializes in long-term custom projects.

B. A large national grocery chain.

C. A manufacturer of a single type of coffee pods.

D. Interest receivable for the investment portfolio of a company that includes short-term and long-term holdings.

2.When a notable item is found while performing an audit data analytic, the auditor should

• assess the impact of the notable item
• ignore it
• perform a different test
• inform management

3.Which of the following could be an internal financial predictor in a regression analysis?

• rent revenue.
• average rental value in the city.
• number of units rented.
• demand for rental units.

4.Paul has decided to perform a regression analysis as a substantive analytical procedure to forecast the amount of rental revenue based on the average number of apartments rented per year and the average amount of rent charged. What are the related assertions?

• occurrence, completeness, and accuracy
• classification, existence, and accuracy
• completeness, presentation, and accuracy
• existence and completeness

5.A business is trying to determine why the product efficiency variance changed in the last quarter. What type of data analytic will they perform?

• predictive
• prescriptive
• diagnostic
• descriptive

6.Jeremy, CPA is performing an audit data analytic as a substantive test on accounts receivable. Jeremy is reconciling the data files to the accounting records to ensure the completeness of the data. This is part of the

• preparation of the data for the test.
• evaluation of the audit data analytic results.
• determination of the reliability and relevance of the audit data analytic.
• planning of the audit data analytic.

7.Jeremy, CPA is performing an audit data analytic as a substantive test on accounts receivable. Jeremy has already concluded the IT controls over the revenue are effective and is now noting that data are externally initiated and processed internally. This assessment is part of the

• determination of the reliability and relevance of the audit data analytic.
• evaluation of the audit data analytic results.
• planning of the audit data analytic.
• preparation of the data for the test.

8.Paul has decided to perform a regression analysis as a substantive analytical procedure to forecast the amount of rental revenue based on the average number of apartments rented per year and the average amount of rent charged. What type of procedure would this be?

• substantive analytical
• test of detail
• risk assessment
• test of control

9.Peter is going to use an ADA to compare the invoices issued by a company to the cash they have received during the year. The purpose of this is to substantiate both the accounts receivable at year end and the amount of revenue during the year. For accounts receivable, what assertion will this test provide evidence for?

• completeness
• existence
• rights and obligations
• cut-off

10.Jason is auditing a company's professional expenses over a three-year period. He decides to perform an ADA to determine if there is a higher risk of misstatement in this area. Which of the following questions would be considered when determining the relevance of the data to be used?

• Will the data be provided by management or gathered directly by Jason?
• Will the data provide information regarding the trend of professional expenses?
• Can the data that will be used be easily overridden by management?
• Are the data structured?

11.Which of the following tests would be classified as a substantive audit data analytic?

• ratio analysis to compare prior years to current years
• testing the authorization of purchase orders
• performing a trend analysis
• corroborating the balance in the inventory account

12.Isaac, CPA is performing an audit data analytic as a substantive test on payroll to gather evidence to support the occurrence assertion for wage expenses. During which part of the process will Isaac compare the totals by week and by employee ID?

• evaluation of the audit data analytic results
• planning of the audit data analytic
• preparation of the data for the test
• performing the audit data analytic

13.Sue is conducting a regression analysis to predict the amount of salaries expense using the number of employees and the average rate of pay. The average rate of pay would be considered to be an

• internal non-financial predictor.
• external non-financial predictor.
• internal financial predictor.
• external financial predictor.

14.Which of the following data visualizations would likely be better at showing the breakdown of operating expenses?

• line charts
• bar charts
• bubble charts
• pie charts

15.Jeremy, CPA is performing an audit data analytic as a substantive test on accounts receivable. Jeremy is drilling down into the unmatched and unpaid amounts to determine if there are any misstatements. This is part of the

• planning of the audit data analytic.
• preparation of the data for the test.
• evaluation of the audit data analytic results.
• determination of the reliability and relevance of the audit data analytic.

16.Why are audit data analytics helpful in analyzing the general ledger when assessing the risk of fraud?

• only reviews a sample of the population
• identifies all fraud that is occurring
• identifies variations from expected processing procedures
• ensures employees cannot steal goods

17.Paul decides to perform an ADA and test accounts payable and compare purchase orders with invoices received and booked. This comparison will provide evidence as to the existence of accounts payable at year end. What type of procedure is this?

• substantive analytical
• risk assessment
• test of details
• test of control

18.A company performs a ratio analysis on the prior years' financial statements to determine if the inventory turnover ratio was increasing or decreasing over time. What type of analytic is this?

• predictive
• prescriptive
• descriptive
• diagnostic

19.Jeremy, CPA performs an audit data analytic and is looking at the results of the test. He observes that there are a number of items which seems to be outliers. After determining these items should not have been included in the test and reperforming the test, the number of outliers decreased. The first test produced

• clustered items.
• inefficient results.
• structured data.
• false positives.

20.Peter is going to use an ADA to compare the invoices issued by a company to the cash they have received during the year. The purpose of this is to substantiate both the accounts receivable at year end and the amount of revenue during the year. For the sales account, what assertion will this test provide evidence for?

• completeness
• rights and obligations
• cut-off
• occurrence