Question 6(1 point)

Management assertions are:

Question 6 options:

a)

Never implied by management.

b)

Stated in the notes to the financial statements

c)

Implied or expressed representations about the accounts in the financial statements

d)

Provided to the auditor by the Board of Directors

e)

Provided to the auditor in the assertions letter.

Question 7(1 point)

In the second year of the client's audit, the PA decides to increase control risk from the previous year.To achieve the same level of assurance as the previous year, the auditor would:

Question 7 options:

a)

decrease the audit fee

b)

decrease planned detection risk

c)

decrease substantive testing

d)

increase materiality levels

e)

increase inherent risk

Question 8(1 point)

Audit evidence can come in many forms with different degrees of reliability.Which of the following is the least reliable type of evidence?

Question 8 options:

a)

Computations made by the auditor

b)

Bank statement obtained from the client.

c)

Confirmation received directly from client's lawyer

d)

Pre-numbered client sales invoices where the internal controls are not strong

e)

Auditor observing the company staff counting the inventory

Question 9(1 point)

The reliance on tests of details in relation to the reliance placed on internal control varies in a relationship that is ordinarily:

Question 9 options:

a)

Parallel

b)

There is no relationship

c)

Equal

d)

Direct

e)

Inverse

Question 10(1 point)

Accounts Receivable Confirmations are primarily used to assess which assertion?

Question 10 options:

a)

Accuracy

b)

Valuation

c)

Completeness

d)

Classification

e)

Existence

Could you answer whose questions? only need answers