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Five Accounting MCQs




Question;The audit program contains procedures intended to:Question 8 options:A) provide support for the financial statementsB) gather evidence to support the auditor's opinionC) certify that the financial statement accounts are accurateD) assist the client in preparing the financial statementsQuestion 9 (4 points)The auditor must obtain "sufficient, competent" evidential matter to support his opinion. "Competent" means:Question 9 options:A) enoughB) relevantC) writtenD) believableQuestion 10 (4 points)The auditor is evaluating whether the client consistently uses prenumbered sales invoices. This is an example of:Question 10 options:A) dual-purpose testingB) materiality testingC) substantive testingD) control testingQuestion 11 (4 points)The auditor obtains a bank statement from the client's bank to obtain evidence about the client's cash balances. This evidence is regarded as competent because it'sQuestion 11 options:A) free from biasB) sufficientC) conclusiveD) persuasiveQuestion 12 (4 points)Which of the following characteristics or actions is not necessary for evidence to be useful to the auditor?Question 12 options:A) Evidence must be evaluated in an unbiased manner by the auditor.B) Evidence must persuade the auditor that the audit objective has been met.C) Evidence must respond to the audit objective for which it's being gathered.D) Evidence must be convincing, beyond all doubt.


Paper#40275 | Written in 18-Jul-2015

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