Standard cost systems When auditing a manufacturing concern, what inquiries would the auditor likely make about...
Standard cost systems
When auditing a manufacturing concern, what inquiries would the auditor likely make about the standard cost system?
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Standard cost systems
When auditing a manufacturing concern, what inquiries would the
auditor likely make about...
46. What is the standard for an auditor to conclude it must issue a going concern...
46. What is the standard for an auditor to conclude it must issue a going concern opinion? S______________________________- D_________________________.
An auditor who is auditing accounts receivable would least likely perform which of the following tests?...
An auditor who is auditing accounts receivable would least likely perform which of the following tests? 1. Confirm a sample of accounts receivables with the customers that owe the balances. 2. Obtain an aged trial balance of accounts receivable and trace the total to the general ledger control account. 3. Vouch cash receipts to the accounts receivables transactions. 4. Select cash disbursements made shortly after year-end and examine the supporting documentation such as receiving reports and vendor invoices.
In auditing accounts receivable, the “negative” form of confirmation request most likely would be used...
In auditing accounts receivable, the “negative” form of confirmation request most likely would be used when a. Accounts receivable consist of a number of accounts with large customer balances. b. Control Risk and Inherent Risk are assessed to be High. c. Recipients are likely to return positive confirmation requests without verifying the accuracy of the information. d. The auditor is not aware of circumstances or conditions that would cause recipients of negative confirmation...
Which of the following conditions or events most likely would cause an auditor to have substantial...
Which of the following conditions or events most likely would cause an auditor to have substantial doubt about an entity's ability to continue as a going concern? A. Management has postponed selected research and development projects during a general economic recession. B.. The entity has engaged in material related party transactions. C. The board of directors declares a stock dividend instead of a cash dividend. D. Cash flows from operating activities are negative.
The PCAOBs recently revised auditor reporting standard includes a requirement for he auditor to communicate ortical...
The PCAOBs recently revised auditor reporting standard includes a requirement for he auditor to communicate ortical udt matters. Crical audit maters include those matters during the audit that involved diffcult, subjective, or complex auditor judgments or that posed dfoulty to the auditor in obtaining sufcient appropriate evidence or in foming the opinion on the financial statements Similarly, the Intemational Auditing and Assurance Standards Board (AAS) recently revised the auditor's report in the ISAS to require auditors to communicate key audit...
Which of the following comparisons would an auditor most likely make in evaluating an entity’s costs...
Which of the following comparisons would an auditor most likely make in evaluating an entity’s costs and expenses? a. The current year’s accounts receivable with the prior year’s accounts receivable. b. The current year’s payroll expense with the prior year’s payroll expense. c. The budgeted current year’s sales with the prior year’s sales. d. The budgeted current year’s warranty expense with the current year’s contingent liabilities.
The auditor's responsibility section of the standard audit report states that the auditor is (15 A)...
The auditor's responsibility section of the standard audit report states that the auditor is (15 A) responsible for the financial statements and the opinion on them B) responsible for the financial statements C) responsible for the opinion on the financial statements .D) jointly responsible for the financial statements with management If the balance sheet of a private company is dated December 31, 2011, the audit report is dated February (16 8, 2012, and both are released on February 15, 2012,...
22. Which of the following factors most likely would heighten an auditor's concern about the risk...
22. Which of the following factors most likely would heighten an auditor's concern about the risk of fraudulent financial reporting? a..The audit committee's approval of the initial selection of accounting principles. b..A lack of competition in the entity's industry, accompanied by increasing profit margins. c..Management's disclosure of unresolved litigation and contingent liabilities. d..Year-end adjustments by the entity that significantly affect financial results 23. Which of the following factors most likely would cause an accountant not to accept an engagement to...
When creating an audit program and designing audit procedures, _ an auditor also decides how to...
When creating an audit program and designing audit procedures, _ an auditor also decides how to select appropriate items for removal from the test sample. the auditors should defer sample selection to the internal auditors. an auditor also decides how to select appropriate items for testing. the auditors should consider use of the cheapest statistical selection methods possible, to lower the cost of the audit. Next Question 7 0.5 pts A representative audit sample is unlikely to provide a reasonable...
（I have three questions about Auditing during my Accounting major study. Please give me details of...
（I have three questions about Auditing during my Accounting
major study. Please give me details of correct answers for each
question in the photo. That's all. Thank you!)
it
is "roll" forward, not role.
11.17 Which assertions are violated if a client includes labour expense related to manufacturing processes as a general expense instead of in cost of inventory? 11.20 When would a client be more likely to (i) overstate or (ii) understate expenses? 11.22 Explain the process of 'roll...
The PCAOBs recently revised auditor reporting standard includes a requirement for he auditor to communicate ortical udt matters. Crical audit maters include those matters during the audit that involved diffcult, subjective, or complex auditor judgments or that posed dfoulty to the auditor in obtaining sufcient appropriate evidence or in foming the opinion on the financial statements Similarly, the Intemational Auditing and Assurance Standards Board (AAS) recently revised the auditor's report in the ISAS to require auditors to communicate key audit...
The auditor's responsibility section of the standard audit report states that the auditor is (15 A) responsible for the financial statements and the opinion on them B) responsible for the financial statements C) responsible for the opinion on the financial statements .D) jointly responsible for the financial statements with management If the balance sheet of a private company is dated December 31, 2011, the audit report is dated February (16 8, 2012, and both are released on February 15, 2012,...
When creating an audit program and designing audit procedures, _ an auditor also decides how to select appropriate items for removal from the test sample. the auditors should defer sample selection to the internal auditors. an auditor also decides how to select appropriate items for testing. the auditors should consider use of the cheapest statistical selection methods possible, to lower the cost of the audit. Next Question 7 0.5 pts A representative audit sample is unlikely to provide a reasonable...
（I have three questions about Auditing during my Accounting
major study. Please give me details of correct answers for each
question in the photo. That's all. Thank you!)
it
is "roll" forward, not role.
11.17 Which assertions are violated if a client includes labour expense related to manufacturing processes as a general expense instead of in cost of inventory? 11.20 When would a client be more likely to (i) overstate or (ii) understate expenses? 11.22 Explain the process of 'roll...
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