AUDITING & ASSURANCE SERVICES | A Systematic Approach

by William F.Messier, Steven M.Glover, Douglas F. Prawitt
Edition: 10th Edition
ISBN13: 978-0-07-773250-9
ISBN10:
495

Management

Title
Chapter: 10 / Q: 10.14 Which of the following internal controls would be most likely to deter the lapping of collections from customers?
Chapter: 10 / Q: 10.15 Smith Corporation has numerous customers. A customer file is kept on disk. Each customer file contains a name, an address, a credit limit, and an account balance. The auditor wishes to test this file to determine whether credit limits are being exceeded. The best procedure for the auditor to follow
Chapter: 10 / Q: 10.16 Cash receipts from sales on account have been misappropriated. Which of the following acts would conceal this defalcation and be least likely to be detected by an auditor?
Chapter: 10 / Q: 10.17 If accounts receivable turnover (credit sales/receivables) was 7.1 times in 2013 compared to only 5.6 times in 2014, it is possible that there were
Chapter: 10 / Q: 10.18 If the number of days\' sales in accounts receivable (365 days/receivables turnover) decreases significantly, which of the following assertions for accounts receivable most likely is violated?
Chapter: 10 / Q: 10.19 Which of the following is most likely to be detected by an auditor\'s review of an entity\'s sales cutoff?
Chapter: 10 / Q: 10.20 Negative confirmation of accounts receivable is less effective than positive confirmation of accounts receivable because
Chapter: 10 / Q: 10.21 The negative request form of accounts receivable confirmation is useful particularly when, The assessed level of control risk relating to receivables is, The number of small balances is, Consideration by the recipient is:
Chapter: 10 / Q: 10.22 An auditor should perform alternative procedures to substantiate the existence of accounts receivable when:
Chapter: 10 / Q: 10.23 In evaluating the adequacy of the allowance for doubtful accounts, an auditor most likely reviews the entity\'s aging of receivables to support management\'s financial statement assertion of

total questions: 495

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