6) Which financial statement assertion is best described by the following statement: "Is everything that is supposed to be there is really there?"

Select one:

a. Valuation

b. Rights and obligations

c. Completeness

d. Presentation and disclosure 7)Which of the following documents would provide the best evidence that a purchase transaction has actually occurred?

Select one:

a. Receiving memorandum documenting the receipt of the goods.

b. Ordering department's original requisition for the goods.

c. Supplier's invoice for the procured goods.

d. Cancelled check issued in payment of the procured goods. 8)Which of the following is an essential factor in evaluating the sufficiency of evidence? The evidence must

Select one:

a. Bear a direct relationship to the finding and include all of the elements of a finding.

b. Be convincing enough for a prudent person to reach the same decision.

c. Be well documented and cross-referenced in the working papers.

d. Be based on references that are considered reliable. 9) Which one of the following is not a key Element of audit observation:

Select one:

a. Sample size

b. Condition

c. Criteria

d. Cause 10 ) The internal auditor of Moheet plans to accumulate evidence. The audit evidence is generally regarded sufficient when:

Select one:

a. The evidence is free from bias and of high quality.

b. The evidence is reliable

c. There is enough of evidence to support well-founded conclusion.

d. The evidence has been obtained using random sampling.