Auditing 2 Test#2 & ch 12-13

Auditing 2 Test#2 & ch 12-13 - 1 Marks: 1 Vouching...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Marks: 1 Vouching selected items from the payroll register to employee time cards that have been approved by supervisory personnel provides evidence that Choose one answer. a. Internal controls relating to payroll disbursements were operating effectively b. Payroll checks were signed by an appropriate officer independent of the payroll preparation process c. Only bona fide employees worked and their pay was properly computed d. Employees worked the number of hours for which their pay was computed Correct Marks for this submission: 1/1. Question 2 Marks: 1 A substantive test of transactions to test the completeness assertion includes Choose one answer. a. Tracing a sample of time cards to the payroll register b. Testing a sample of payroll checks for the presence of an authorized time card c. Testing postings to the payroll register for a sample of payroll checks d. Recomputing the accuracy of a sample of payroll
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
checks Correct Marks for this submission: 1/1. Question 3 Marks: 1 In an IT payroll system environment, an auditor would be least likely to use test data to test controls related to: Choose one answer. a. Missing employee numbers. b. Proper approval of overtime by supervisors. c. Time cards with invalid job numbers. d. Agreement of hours per clock cards with hours on time cards. Correct Marks for this submission: 1/1. Question 4 Marks: 1 The purpose of segregating the duties of hiring personnel and distributing payroll checks is to separate the Choose one answer. a. Administrative controls from the internal accounting controls b. Human resources function from the controllership function c. Operational responsibility from the record-keeping responsibility d. Authorization of transactions from the custody of related
Background image of page 2
assets Incorrect Marks for this submission: 0/1. Question 5 Marks: 1 Which of the following circumstances most likely would cause an auditor to suspect an employee payroll fraud scheme? Choose one answer. a. There are significant unexplained variances between standard and actual labor cost b. Payroll checks are disbursed by the same employee each payday c. Employee time cards are approved by individual departmental supervisors d. A separate payroll bank account is maintained on an imprest basis Correct Marks for this submission: 1/1. Question 6 Marks: 1 Which of the following activities most likely would detect whether payroll data are accurately processed? Choose one answer. a. Monitor authorized distribution of data control sheets b. Use test data to verify the accurate performance of payroll processing c. Examine source documents for approval by
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
supervisors d. Segregate duties between approval of hardware and software specifications Correct Marks for this submission: 1/1. Question
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 42

Auditing 2 Test#2 & ch 12-13 - 1 Marks: 1 Vouching...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online