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Auditing Assurance Services Study Set 1

Business

Quiz 4 :

Audit Responsibilities and Objectives

Quiz 4 :

Audit Responsibilities and Objectives

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Which of the following is NOT one of the four phases in the audit process?
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Multiple Choice
Answer:

Answer:

D

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Which one of the following statements is true?
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Multiple Choice
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Answer:

A

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When the auditor has assessed control risk of a particular area at a reduced level, he or she will then:
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Multiple Choice
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Answer:

B

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Only three management assertions are associated with transaction- related audit objectives. Which one of the following is NOT?
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When the auditor believes an illegal act may have occurred, it is necessary to:
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When comparing the auditor's responsibility for detecting employee fraud and for detecting errors, the profession has placed the responsibility:
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When the auditor knows that an illegal act exists he should:
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Which one of the following statements is true?
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'The auditor should not assume that management is dishonest, but the possibility of dishonesty must be considered.' This is an example of:
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To which audit objective does the assertion 'recorded sales are for the amount of goods shipped and are correctly billed and recorded' relate?
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After the auditor has completed all the procedures, it is necessary to combine the information obtained to reach an overall conclusion as to whether the financial statements are fairly presented. This is a highly subjective process that relies heavily on:
Multiple Choice
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Which of the following 'general transaction- related audit objectives' is NOT part of the valuation or allocation assertion?
Multiple Choice
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The objective of the ordinary examination by the independent auditor is the expression of an opinion on:
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Which of the following statements is true?
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The completeness assertion addresses:
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Which of the following is NOT an assertion relating to 'general transaction- related audit objectives'?
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Management assertions are:
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ASA 300 requires an auditor to gain a reasonable understanding of the client's:
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Which one of the following statements about the existence and completeness objectives is true?
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Which of the following is an example of the classification and understandability assertion?
Multiple Choice
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