Question
When an auditor obtains the A/R aging and sends letters to the customers listed asking them to verify the amounts, what type of audit evidence
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When an auditor obtains the A/R aging and sends letters to the customers listed asking them to verify the amounts, what type of audit evidence is being obtained?
When an auditor obtains the A/R aging and sends letters to the customers listed asking them to verify the amounts, what type of audit evidence is being obtained?
| a. | Reperformance | |
| b. | Confirmation | |
| c. | Physical Examination | |
| d. | Inquiry |
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A(n) _____ is a detailed instruction that specifies audit evidence to be obtained.
| a. | physical examination | |
| b. | audit procedure | |
| c. | analytical procedure | |
| d. | professional standard |
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An audit plan consists of a detailed list of audit procedures to be performed.
True False
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The main purpose of gathering audit evidence is to _____.
| a. | understand the client's industry | |
| b. | form a conclusion | |
| c. | justify the expense of an audit | |
| d. | complete the permanent file |
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If an auditor determines that internal controls are ineffective, they will most likely take which of the following actions?
| a. | Decrease the materiality calculation. | |
| b. | Increase the amount of audit evidence gathered. | |
| c. | Decrease the amount of audit evidence gathered. | |
| d. | Increase the materiality calculation. |
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Accounting Information For Business Decisions
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons
2nd Edition
0170253708, 978-0170253703
