Devry ACCT 444 Week 3 Quiz Latest

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Devry ACCT 444 Week 3 Quiz Latest

Question 1

3 / 3 pts

(TCO 6) Physical examination is the inspection or count by the auditor of items such as

cash or inventory only.

cash, inventory, canceled checks, and sales documents.

cash, inventory, canceled checks, and tangible fixed assets.

cash, inventory, securities, notes receivable, and tangible fixed assets.

Question 2

0 / 3 pts

(TCO 6) Analytical procedures are

diagnostic tests of financial information that may not be classified as evidential matter.

calculations of financial information made by a computer.

substantive tests of financial information made by a study and comparison of relationships among data.

statistical tests of financial information designed to identify areas requiring intensive investigation.

Question 3

3 / 3 pts

(TCO 6) The Auditing Standards Board has concluded that analytical procedures are so important that they are required during

planning and testing phases.

planning and completion phases.

testing and completion phases.

planning, testing, and completion phases.

Question 4

3 / 3 pts

(TCO 6) Traditionally, confirmations are used to verify

individual transactions between organizations, such as sales transactions.

bank balances and accounts receivables.

fixed asset additions.

All of the above

Question 5

3 / 3 pts

(TCO 7) Analytical procedures used in planning an audit should focus on identifying

material weaknesses of internal control.

the predictability of financial data from individual transactions.

the various assertions that are embodied in the financial statements.

areas that may represent specific risks relevant to the audit.

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Devry ACCT 444 Week 3 Quiz Latest