S Which of the following statesents is most comt with respect Ne Bon of duties? the ubidiary ledg A) Employees who open csh recelpts shoold reoord the amounts 8) Employees who uthorine transactions shold have moording nesponsibility for these transactions QA peson who has temporary or pe mtedy of an a hould acunt for that asset DyEmployees who authorie transsctions sheald have custody of wlaled assets 9) Which of the following is correct with respect to the design and use of business dooumm AjDocuents should be prenmbered connatively to taciliate ntel over miing documents B) Documents should be destgned to be uandentandable only by those who use them O The docummts should be in peper format D) Decuments should be designed ora single purpseavad confuslon in their e 10) The following four quesone present scenare that ane mi one deterine the control mising tnsaction related dit objetive allced t have ocd For each The incorect price was ued on sales invelce beom A) edepaate docusentyoecuren Ophysial controllaccarcy the wrong price wastn the m le dgate documentaccue Depertnof dutieocorence ploe 1) Daring the phydeal cont of ivey ane coer wewng dieriptiand made e counts Andependent checkacouny Operation of dutio/ocoarene 1) physdcal controlacuracy D) adequate decumentlacuracy 12) Hmployees took recelved menchandie for their pernal use Ajbeperation of dutles ence Q lindependent chedeccurecy B physcal controacucy D) physical contol/oces 13) An accounts payable clerk prsed payments to hwll by addinga ftious vendor to masterfile A)eperation of dutiesloccurence 9mperation of dhutiescompleteness 13) 8) eperation of dutieslacouracy D) seperation of dutieslotoll 140 When the auditor attempts to understand the operation of the aounting system by tracingw transactions theough the accounting system, the auditor issid Al vouching Operforminga wallhough 14) B tang bieting controls 15) Narratives, flowcharts, and intenal contrl qiestionnalres are three common methods of A) documenting the auditor's und 1chegg.com/homework-help/questions-and-answers/tiple-choice-choose-one-alternative-best-c E Chegg Study Textbook Solutions Study Pack Practi Expert Q&A 7 Which of the lollowing activities would be least bkely to strengthen a company's intermal control? A) maintaining innurance for fire and theft B) parating acounting from other finandial operations Oing rponaibility for the performance of employee duties D) caretully selecting and training employees Which of the following statememts is most corect with mpect toparation of dutles? A) Employees who open cash receipts should reeoed the amounts in the subsidiary ledgems B) Employees who authorte traactions should have ecording responsibility for these transaction QA peron whe has temporary or permanent cutody of an aet should account for that asset DEmployees whe authertae trannactions shuld not have cutody of related assets 9) which of the following is correct with respect to the destgn and use of business documents? ADouments should be peebered conecutively te facilitate control over miing dcments B) Documents should be deigredtbe undentandlable only by those who use them OThe doumets should be in paper omat D) Decuments should be desgned forasingle purpoetavold confusion in their use 10) The following four quetione present semar that are mistatememts that have occured For each one deterine the trl miing tnaction related andit objective aected 30) The incorect pelce was ed onle le becaue e wng price A) adequate documentoooumoe O physteal controleurcy ter le of price anurcy dega Dpetn f dutocunce 11) During the physical cunt of nventry ane coter wote wng discriptioand made erron in counts Andependent dchecourcy Operation of dut m 11) physical ctrcucy Ddegute dumentuy 12) Emplayeen ook reolved handier th peronal u Aeperationof dutie urence Q lindependent dhedaccurcy 12) B physical etacucy D) physical contloccurence 13) An accounts payable clerk prooned payments to himell by adding a eious vendor to materfie A) seperation of dutean wperation of dutiesloompletmess 13) pernef dutieaccurcy D) peration of dutiesloutotf 140 When the dier attempt lo understand the operation of the acrounting ysm by tracing a lew transactions through the accounting ystem, the udior is sald t be A) vouching O performing a walkthrough 14) Bacing bjleting controls 15) Naratives, flowcharts, and intemal control questionnaires are three common methods of A) documenting the auditor's understanding of intenal controls B) testing the intermal controla O designing the aadit manual and procedures D) documming the auditor's understanding of a cliont's organiaational structure 16 F finandial statement adits odton nend to undentand contl that are elevent to the asudt n Ee search S Which of the following statesents is most comt with respect Ne Bon of duties? the ubidiary ledg A) Employees who open csh recelpts shoold reoord the amounts 8) Employees who uthorine transactions shold have moording nesponsibility for these transactions QA peson who has temporary or pe mtedy of an a hould acunt for that asset DyEmployees who authorie transsctions sheald have custody of wlaled assets 9) Which of the following is correct with respect to the design and use of business dooumm AjDocuents should be prenmbered connatively to taciliate ntel over miing documents B) Documents should be destgned to be uandentandable only by those who use them O The docummts should be in peper format D) Decuments should be designed ora single purpseavad confuslon in their e 10) The following four quesone present scenare that ane mi one deterine the control mising tnsaction related dit objetive allced t have ocd For each The incorect price was ued on sales invelce beom A) edepaate docusentyoecuren Ophysial controllaccarcy the wrong price wastn the m le dgate documentaccue Depertnof dutieocorence ploe 1) Daring the phydeal cont of ivey ane coer wewng dieriptiand made e counts Andependent checkacouny Operation of dutio/ocoarene 1) physdcal controlacuracy D) adequate decumentlacuracy 12) Hmployees took recelved menchandie for their pernal use Ajbeperation of dutles ence Q lindependent chedeccurecy B physcal controacucy D) physical contol/oces 13) An accounts payable clerk prsed payments to hwll by addinga ftious vendor to masterfile A)eperation of dutiesloccurence 9mperation of dhutiescompleteness 13) 8) eperation of dutieslacouracy D) seperation of dutieslotoll 140 When the auditor attempts to understand the operation of the aounting system by tracingw transactions theough the accounting system, the auditor issid Al vouching Operforminga wallhough 14) B tang bieting controls 15) Narratives, flowcharts, and intenal contrl qiestionnalres are three common methods of A) documenting the auditor's und 1chegg.com/homework-help/questions-and-answers/tiple-choice-choose-one-alternative-best-c E Chegg Study Textbook Solutions Study Pack Practi Expert Q&A 7 Which of the lollowing activities would be least bkely to strengthen a company's intermal control? A) maintaining innurance for fire and theft B) parating acounting from other finandial operations Oing rponaibility for the performance of employee duties D) caretully selecting and training employees Which of the following statememts is most corect with mpect toparation of dutles? A) Employees who open cash receipts should reeoed the amounts in the subsidiary ledgems B) Employees who authorte traactions should have ecording responsibility for these transaction QA peron whe has temporary or permanent cutody of an aet should account for that asset DEmployees whe authertae trannactions shuld not have cutody of related assets 9) which of the following is correct with respect to the destgn and use of business documents? ADouments should be peebered conecutively te facilitate control over miing dcments B) Documents should be deigredtbe undentandlable only by those who use them OThe doumets should be in paper omat D) Decuments should be desgned forasingle purpoetavold confusion in their use 10) The following four quetione present semar that are mistatememts that have occured For each one deterine the trl miing tnaction related andit objective aected 30) The incorect pelce was ed onle le becaue e wng price A) adequate documentoooumoe O physteal controleurcy ter le of price anurcy dega Dpetn f dutocunce 11) During the physical cunt of nventry ane coter wote wng discriptioand made erron in counts Andependent dchecourcy Operation of dut m 11) physical ctrcucy Ddegute dumentuy 12) Emplayeen ook reolved handier th peronal u Aeperationof dutie urence Q lindependent dhedaccurcy 12) B physical etacucy D) physical contloccurence 13) An accounts payable clerk prooned payments to himell by adding a eious vendor to materfie A) seperation of dutean wperation of dutiesloompletmess 13) pernef dutieaccurcy D) peration of dutiesloutotf 140 When the dier attempt lo understand the operation of the acrounting ysm by tracing a lew transactions through the accounting ystem, the udior is sald t be A) vouching O performing a walkthrough 14) Bacing bjleting controls 15) Naratives, flowcharts, and intemal control questionnaires are three common methods of A) documenting the auditor's understanding of intenal controls B) testing the intermal controla O designing the aadit manual and procedures D) documming the auditor's understanding of a cliont's organiaational structure 16 F finandial statement adits odton nend to undentand contl that are elevent to the asudt n Ee search