QUESTION 11 Reviewing the ratio of depreciation expense to repairs and maintenance is an example of an effective analytical procedure. O True O False QUESTION 12 Sisneros Inc. sold $2 million worth of assets to Cynos Inc. in December 2019. Sisneros Inc. decided to hold off on recording the sale on its books until January 2020 when its CFO returns from vacation. Not recording the sale can impact the removal of the assets from the books. O True O False QUESTION 13 Analyzing accounts payable turnover ratios over a period of time is an example of an analytical procedure. O True O False QUESTION 14 In the event there are no material violation of generally accepted auditing principles, the audit will issue an unqualified report. O True O False QUESTION 15 Recording all debt obligations and stock dividends satisfies to completeness assertion for debt. O True O FalseQUESTION 16 Some of the auditor's responsibility can extend beyond the balance sheet date. O True O False QUESTION 17 The board of directors of an organization approving all new debt will be the expectation of the auditor when it comes to internal controls over equity. O True O False QUESTION 18 The auditor is more concerned with contingencies that existed before the end of the audit field work than contingencies that existed at the balance sheet date. O True O False QUESTION 19 The valuation or allocation assertion relevant to inventory is more important than the rights and obligation assertion. O True O False QUESTION 20 The auditor is required to date the audit report using the last date of fieldwork. O True O False