ACC 403 help A Guide to career/Snaptutorial ACC 403 help A Guide to career/Snaptutorial | Page 18

10. The posting and summarization audit objective is the auditor's
counterpart to management's assertion of:
11. The concept of reasonable assurance indicates that the auditor is:
12. If a short-term note payable is included in the accounts payable
balance on the financial statement, there is a violation of the:
13. The evaluations of financial information through analysis of
plausible relationships among financial and nonfinancial data is the
definition of:
14. Appropriateness of evidence is a measure of the:
15. The auditor must gather sufficient and appropriate evidence
during the course of the audit. Sufficient evidence must:
16. When auditors use documentation to support recorded
transactions and amounts, the process is usually called:
17. A benefit obtained from using industry averages is that it
provides a(n):
18. When the auditor uses tracing as an audit procedure for tests of
transactions she is primarily concerned with which audit objective?
19. Calculating the gross margin for the current year under audit as a
percent of sales and comparing it with previous years is what type of
evidence?
20. Business risk:
21. In making client acceptance decisions, the audit firm will
consider:
22. If an auditor is requested to perform nonaudit services for a
public company audit client, who is responsible for agreeing to those
services with the audit firm?
23. The auditor is likely to accumulate more evidence when the audit
is for a company:
24. Most auditors assess inherent risk as high for related parties and
related-party transactions because:
25. The two major factors affecting acceptable audit risk are:
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ACC 403 midterm exam part 1
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