Assessed Online Test 2 - Topic 5.pdf - Dashboard Faculty of...

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Dashboard Faculty of Business and Economics Department of Accounting S1 2017 ACF5957 - S1 2017 Topic 5 Assessed Online Test 2 - Topic 5 Question 1 Correct Mark 1.00 out of 1.00 Question 2 Correct Mark 1.00 out of 1.00 Started on Sunday, 26 March 2017, 6:37 PM State Finished Completed on Sunday, 26 March 2017, 6:45 PM Time taken 8 mins 17 secs Grade 10.00 out of 10.00 ( 100 %) An auditor verifies amounts recorded in their client's records using: Select one: a. evidential sources prepared by the client's management b. verbal evidence from top management to confirm material transactions c. confirmations, electronic evidence or verbal evidence from external sources d. A,B & C e. Only A and C The correct answer is: Only A and C Completeness is an assertion used: Select one: a. when testing balance sheet items b. for transactions and events c. for presentation and disclosure d. all of the above Learning Objective 5.1 ~ outline the audit assertions The correct answer is: all of the above
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Question 3 Correct Mark 1.00 out of 1.00 Question 4 Correct Mark 1.00 out of 1.00 Assessing an expert's report involves the auditor: Select one: a. asking whether the auditor should hire an in-house/external expert to verify the
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