quiz 7 - Introduction to Audit Quiz # 7 Group Date Name...

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Introduction to Audit Quiz # 7 Group Date Name Which of the following forms of evidence is most reliable? a. General ledger account balances. b. Confirmation of A/R balance received from a customer. c. Internal memo explaining the issuance of a credit memo. d. Copy of month-end adjusting entries. Evidence obtained directly by the auditor is more competent than information obtained indirectly. Which of the following is not an example of the auditor’s direct knowledge? a. Physical examination. b. Observation. c. Computation. d. Inquiry. When an auditor calculates the gross margin as a percent of sales and compares it with previous periods, this type of evidence is called a. physical examination. b. analytical procedures. c. observation. d. inquiry Distinguish between internal documentation and external documentation as types of audit evidence. Give two examples of each. Which type is considered more reliable? The are four important purposes of analytical procedures. Identify each of these four purposes
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This note was uploaded on 04/03/2011 for the course AUDIT 1 taught by Professor Rcxiladze during the Spring '11 term at Georgian.

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quiz 7 - Introduction to Audit Quiz # 7 Group Date Name...

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