Question
Question 7 An important aspect of developing a preliminary audit strategy involves _______. A. understanding the entity and its environment B. understanding the industry that
Question 7
An important aspect of developing a preliminary audit strategy involves _______.
| A. understanding the entity and its environment | ||
| B. understanding the industry that the auditor operates in | ||
| C. determining what audit opinion management would like the auditor to issue | ||
| D. confirming certain account balances with the internal audit function |
Question 8
The most important control over the existence, completeness, and valuation of cash balances _______.
| A. is immediate collection of cash by companies | ||
| B. is to defer cash collection for as long as possible | ||
| C. is an independent bank reconciliation | ||
| D. is written representation by senior management with respect to the accuracy of the cash balance |
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Accounting Business Reporting For Decision Making
Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond
7th Edition
0730369323, 9780730369325
