Week 5 : The Audit Program, Auditing Sale,
& Collection Cycle - Quiz
1. (TCO 6) The auditor looks for an indication on duplicate sales invoices to see whether the
invoices have been verified. This is an example of (Points : 3)
a test of details of balance
10-33 (Objective 10-3) Following are descriptions of ten internal controls.
1. The companys computer systems track individual transactions and automatically
accumulate transactions to create a trial balance.
2. The company must receive universi
13-26 (Objectives 13-1, 13-2, 13-3, 13-6) The following are audit procedures from different
1. Use audit software to foot and cross-foot the cash disbursements journal and trace the
balance to the general ledger.
2. Select a
1-18 (Objectives 1-3, 1-4, 1-5) Consumers Union is a nonprofit organization that provides
information and counsel on consumer goods and services. A major part of its function is the
testing of different brands of consumer products that are purch
7-27 (Objective 7-4) The following are examples of documentation typically obtained by
1. Vendors invoices
2. General ledger files
3. Bank statements
4. Cancelled payroll checks
5. Payroll time records
6. Purchase requisitions
5-23 (Objectives 5-4, 5-5, 5-7) Chen, CPA, is the auditor for Greenleaf Manufacturing
Corporation, a privately owned company that has a June 30 fiscal year. Greenleaf arranged for a
substantial bank loan that was dependent on the banks receiving
Week 1 : Introduction to Auditing, GAAS,
and Professional Ethics - Quiz
1. (TCO 3) Prior to the passage of the Sarbanes-Oxley Act, which of the following was
responsible for establishing auditing standards? (Points: 3)
Public Company Accounting Oversight
Week 2 : Auditor Legal Liability, Fraud, &
Audit Objectives - Quiz
Question 1. 1. (TCO 4) To succeed in an action against the auditor, the client must be able to
show that (Points : 3)
the auditor was fraudulent.
the auditor was grossly negligent.
Week 3 : Audit Evidence, Planning, Risk, &
Materiality - Quiz
1. (TCO 6) Physical examination is the inspection or count by the auditor of items such as
(Points : 3)
cash or inventory only.
cash, inventory, canceled checks, and sales documents.
Week 4 : Internal Controls, IT Auditing Quiz
1. (TCO 5) Which of the following is responsible for establishing internal controls for a
public company? (Points : 3)
Financial statement auditors
Management and auditors
Committee of Sponsoring Org