{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

quizz chapter 7

quizz chapter 7 - See course hero chapter 7 final...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
See course hero – chapter 7 final Your Results: The correct answer for each question is indicated by a  1 CORRECT Which of the following types of evidence is generally considered the  least  reliable? A) Observation B) Analytical procedures. C) Documentation. D) Confirmation Feedback:  INCORRECT Which of the following factors will most likely affect an auditor's judgment about the quantity,  type, and content of audit documentation? A) The availability of generalized audit software B) The timing of substantive tests completed prior to the balance sheet date. C) The usefulness of the audit documentation as a reference source for the client. D) The degree of reliance on internal control. Feedback:  INCORRECT Which of the following statements is correct with regard to the competence of evidential  matter? A) The auditor's direct personal knowledge, obtained through observation and inspection,  is more persuasive than information obtained indirectly from independent outside  sources.
Background image of page 1

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

View Full Document Right Arrow Icon
B) To be competent, evidential matter must be either valid or relevant but need  not  be  both. C) Accounting data alone may be considered sufficient competent evidential matter to  issue an unqualified opinion on financial statements. D) Competence of evidential matter refers to the amount of corroborative evidence to be  obtained. Feedback:  INCORRECT Discussions with the owner-manager of an audit client reveal to the auditor that the company  is more concerned with minimizing their income tax payments than maximizing income.  Based on this information, which management assertion will the auditor be most concerned  about verifying with regard to sales revenue? A) Existence and occurrence. B)
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 7

quizz chapter 7 - See course hero chapter 7 final...

This preview shows document pages 1 - 3. Sign up to view the full document.

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