When the auditors are observing the physical inventory counts, they need to make sure to properly manage and supervise the client's staff that is performing the counts

True

False

Auditors should analyze the miscellaneous revenue account and look for the following items that may be improperly recorded:

Group of answer choices

Proceeds from sales of assets

Written off old outstanding checks

Collections from previously written-off accounts receivable

All of the above

Based on the below summarized analytical procedure begun by the auditors, determine if the client's depreciation expense is reasonable. Select "Yes" if it's reasonable or "No" if it's not reasonable.

• Auditor's estimated depreciation expense is $30,000
• Auditor's acceptable range of expense 10% (this is + or - 10%)
• Client's actual depreciation expense is $31,050

The primary substantive test performed on Selling, General and Administrative expenses is:

Group of answer choices

Sending confirmations for account balances.

Vouch selected purchases made during the year.

Review year-end cutoff of purchases.

Performing analytical procedures.

Group of answer choices

yes

no