QUESTION 1 Substantive analytics for cash accounts are typically not very effective. O True O False QUESTION 2 Sini Inc. purchased receivables from Casto Inc. in June 2018. In June 2019, Casto Inc. agreed to purchase the receivables back from Sini Inc. The auditor is responsible for maintaining policies and procedures to account for this transaction. O True O False QUESTION 3 Nylo Inc. is a US Company with operations in the UK. In auditing the threat of confiscateon of Nylo Inc.'s factory plant in a town in UK, the auditor can evaluate the threat to Nylo Inc. by pledging that the accounting and disclosure requirements of the threat has been met. O True O False QUESTION 4 Bank reconciliations are key control procedures relating to cash. O True O False QUESTION 5 In testing of controls to determine that cash receipts are appropriately recorded, a key test that must be performed by the auditor is to perform a walkthrough to understand the cash payment process. O True O FalseQUESTION 6 In the event there are no going concern problems, the auditor can issue an unqualified report with a going concern paragraph. O True O False QUESTION 7 Physically inspecting tangible assets, including major additions, and agreeing serial numbers with invoices or other supporting documents is an example of substantive fraud-related procedures. O True False QUESTION 8 Inherent risks pertaining to cash can be attributed to the susceptibility of cash. O True O False QUESTION 9 Inquiring of management as to whether assets have been pledged as collateral is an example of a test of control. O True O False QUESTION 10 The auditor usually uses substantive analytical procedures and test of details to audit equity because they are usually so few and material. O True O False