1. When auditing the cash account, the auditor traces cash receipts in the bank reconciliation to subsequent bank statements. Which of the following audit objectives are tested?

   	A.	Completeness and occurrence
   	B.	Classification and occurrence
   	C.	Classification and cut-off
   	D.	Occurrence and cut-off
   	E.	Completeness and cut-off

QUESTION 2

1. Which of the following audit procedures should not be used to identify slow-moving or obsolete inventory items?

   	A.	Examine obsolescence reports and scrap sales for subsequent periods after the balance day.
   	B.	Select a sample of inventory items that have recently been acquired by the company from the inventory ledger and trace them to purchase invoices.
   	C.	Review the perpetual inventory records for inventory items that have not been sold in the last three months.
   	D.	Calculate inventory turnover ratio by inventory item and look for items that have slow turnover.
   	E.	Make observations during the physical inventory examination for rust and damaged inventory.