QUESTION 8 Which of the following source documents is the least reliable audit evidence used to substantiate a purchase transaction? O A. Purchase order B. Purchase contract for a parcel of land O C. Purchase invoice O D. Purchase requisition form E. Reliability of the listed source documents cannot be ranked. QUESTION 9 Which of the following statements about the test of bank reconciliation is/are correct? O A. Test of bank reconciliation is a dual-purpose test. B. For the cash payments and receipts booked by the client but not in the current period bank statements, auditors look for them in subsequent periods' bank statements. OC. For the cash payments and receipts in the bank reconciliation that can be identified in the current period bank statements, auditors do not need to perform further tests. O D.A and B. O E. A, B and C. QUESTION 10 Which of the following statements is correct? A. Lower assessed control risk strategy means both control risk and detection risk are assessed low. As a result, auditors can collect less audit evidence. B. Auditors must perform tests of controls if their initial assessment shows that internal controls seem to be effective. OC. A new auditor picked up 7 deviations in a sample of 100, where the true sample deviation rate is 1296. This is an example of sampling risk. D. Auditors need to collect more audit evidence if the materiality is 3% of profit before tax rather than 79 of profit before tax. O E. The level of assurance obtained from dollar unit sampling is (1- the risk of incorrect rejection)