8:47 PM pages.groupme.com MessagesLTE Dec 04, 2017, 9:43 PM and subsidiary ledge
ID: 2587144 • Letter: 8
Question
8:47 PM pages.groupme.com MessagesLTE Dec 04, 2017, 9:43 PM and subsidiary ledgers and work sheets supporing cost allocations are best A oher information. g Accounting records c. Supplementary evidence. D. Analyscal evidence. (22] Documentary evidence is one of the principaltypes of information used by an auir b substantiale an opinion. Which one of the following examples of documentary evidence is the most reliable? A. Material requisition slips B. Copies of sales invoices C. Purchase requests D. Bank statements (23] Which stanement about audit evidence is talse? A. The auditor is seldom convinced beyond all doutbt with respect to all aspects of the statements being audited. auditor should not perform a procedure that provides persuasive evidence rather than conclusive evidence. C. The audsor evaluates the degree of risk involved in deciding the kind o D. The auditor balances the benefts of the evidence and the cost to obtain it evidence to gather. [24] Appropriate audit evidence is best defined as evidence that A. Is nelevant and reliable in providing suppornt for the condlusions on which the opinion is based B. Is obtained by observing people, property, and events C. Is supplementary to oher evidence already given and tends to strengthen or con im t D. Proves an intermediate fact, or group of facts, from which one can inter the existence of some other fact hat is signifcant to the issue considered [25] The greatest weakness ofaudit procedure of inspecting tangible assets is that A. The inspection may need to occur at a speoific ime B. The cost of such evidence exceeds its beneits C. The auditor may require the help of an expert to evaluate what has been inspected D. The client may conceal evidence Which of the following factors is most important in determining the appropriateness of audit evidence? A. The rolability of the evidence in-ng the audt ectve. B. The objecivity of the audtor gathering the evidence C. The quanity of the evidence obtained. D. The independence of the source of evidence Exam V SExplanation / Answer
21 Answer:- B. Accounting Records
22 Answer:- D. Bank Statements
Explanation :- Inspection of bank statements obtained directly from the clients financial institutions.
23 Answer:- B. The auditor should not perform a procedure that provides persuasive evidence rather than conclusive evidence.
Explanation :- In most cases, evidence that is obtained to enable an auditor to show reasonable conclusionsteps on which to base opinion is necessarily persuasive rather than the conclusive. The cost of obtaining inclusive evidence may outweigh the benefits that the difficulty time or cost is ot in itself or valid reason. 1. To omit an audit procedure for which no alternative exists. 2. To be satisfied with less than persuasive evidence.
24 Answer: D. Proves an intermediate fact, or group of facts, from which one can infer the existence of some other fact that is significant to the issue considered.
25 Answer:- A. The inspection managed need to occur at a specific time.
26 Answer:- A. The realibility of the evidence in meeting the audit objective.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.