Question: ach multiple-choice question, please choose the BEST ANSWER and place your answer on the uter form. Which of the following forms of evidence would be

 ach multiple-choice question, please choose the BEST ANSWER and place your

ach multiple-choice question, please choose the BEST ANSWER and place your answer on the uter form. Which of the following forms of evidence would be most persuasive in forming the auditors opinion? a. Responses to auditor's questions by the president and controller re garding investments account. Correspondence with a stockbroker regarding the quantity of client's investments held in street name by the broker. Negative confirmations received from the client's customers. The auditor's count of marketable securities. d. The common types of confirmation used by auditors are (1) negative confirmations, (2) positive confirmation with a request for information, (3) positive confirmation with the information included. If they were placed in the order of their competence, from lowest to highest, the sequence would be 2,3. 1,3,2, a. 3. Which one of the following is not one of the characteristics of relevant/reliable evidence? a. Independence of provider b. Effectiveness of internal control structure. c. Size of the sample d. Degree of objectivity 4. Which of the following is the least reliable/relevant type of evidence? a. A letter written by the client's outside attorney discussing the likely outcome of outstanding lawsuits b The physical count ofsecurities and cash by auditor. c. Inquiries of the credit manager about collectability of noncurrent accounts receivable d. Examination of a client's sale invoice by the auditor. 5. Which of the following is not one of the subcomponents of the control a. management's philosophy and style c. d. adequate separation of duties commitment to competence all of the above are a subcomponents of the control environment

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!