acct 3708 Quiz 3 - Blueversion Question1.& a...

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Blue version  Question 1. Which would be most appropriate for testing property plant & equipment for existence is? a) Take a sample of property plant & equipment items from the property plant & equipment sub- ledger and, physically sight each item. b) Take a sample of actual property plant & equipment items, by forming a physical stocktake, and  for each item check that there is Journal entry in the property plant & equipment sub-ledger  c) Take a sample of property plant& equipment items from the property plant & equipment sub- ledger and, compare the value in the ledger to value on the purchase document. d) A sample of actual property plant& equipment items, by forming a physical stocktake, and for  each item, check that there is purchase invoice.  Question 2. Which of the following statement are true?  Question 3: The procedure which would be most appropriate for testing accounts payable for  completeness is: Question 4. Statistical sampling Question 5. Exception reports are...?  a) Are used if you require specific information. Question 6. Substantive analytical procedure
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