Question 11 (1 point)

When an auditor uses a specialist to inspect inventory on hand to ensure that it is still saleable, the auditor is gathering evidence to support which assertion?

Question 11 options:

a)Classification

b) Accuracy

c) Existence

d) Valuation

e) Completeness

Question 12 (1 point)

The Vancouver Real Estate Foundation Corporation implemented a new computer system to track and record receivables. The program automatically prints invoices and sends them to customers when payments are due.Due to a program error, a whole series of invoices were appropriately included in revenue but were inappropriately excluded from accounts receivable.The management assertion primarily affected by this activity is

Question 12 options:

a) Completeness

b) Classification

c) Existence

d) Accuracy

e) Valuation

Question 13 (1 point)

The audit risk model is used primarily

Question 13 options:

a) To understand the client's industry

b) To determine the type of opinion to express

c) To evaluate the evidence that has been gathered

d) For planning purposes in determining how much evidence to accumulate

e) To complete tests of controls

Question 14 (1 point)

Which of the following audit tests would NOT be regarded as a "test of detail balances"?

Question 14 options:

a) All of these choices are test of detail balances

b) Discussing the valuation of inventory with the client

c) Counting the quantities in the warehouse and comparing them to the perpetual records to verify amounts.

d) Reviewing sales transactions to ensure that sales over a certain amount were approved by the sales manager

e) Reviewing old receivables on the aging of receivables list with the credit manager to assess the collectability of receivables

Question 15 (1 point)

A technology company decided to inflate revenue by recording fictitious sales.Several fake clients were created and sales were added into the sales journal throughout the year.The management assertion most affected by these actions is:

Question 15 options:

a) Occurrence

b) Cut-off

c) Completeness

d) Classification

e) Accuracy

Could you answer whose questions? only need answers