Quiz Ch14 - ViewAttempt1of1 Title: Started: Submitted:...

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View Attempt 1 of 1  Title: M14 Started: March 21, 2009 5:34 PM Submitted: March 21, 2009 5:44 PM Time spent: 00:09:58  Total score: 7/10 = 70%   Total score adjusted by 0.0  Maximum possible score: 10 
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1.      Which of the following policies constitutes a control weakness related to the acquisition of factory  equipment?     Student Response Value Correct Answer Feedback a.  Acquisitions are to  be made through  and approved by the  department in need  of the equipment 100%      b.  Advance executive  approvals are  required for  equipment  acquisitions 0%      c.  Variances between  authorized  equipment  expenditures and  actual costs are to  be immediately  reported to  management 0%      d.  Depreciation policies  are reviewed only  once a year 0%         Score: 1/1    2.      A weakness in internal control over recording retirements of equipment may cause the auditor to     Student Response Value Correct Answer Feedback a.  Inspect certain items  of equipment in the  0%     
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plant and trace those  items to the  accounting records b.  Review the subsidiary  ledger to ascertain  whether depreciation  was taken on each  item of equipment  during the year 0%      c.  Trace additions to the  "other assets" account  to search for 
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This document was uploaded on 11/26/2010.

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Quiz Ch14 - ViewAttempt1of1 Title: Started: Submitted:...

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