ACC 562 EDU Extraordinary Success/acc562edu.com ACC 562 EDU Extraordinary Success/acc562edu.com | Page 15

43. The audit team asks the client to pull a sample vendor files and
examines the invoices supporting the purchases of inventory items
during the year. What is the most probable reason for the use of this
evidence? (Points: 4)
Confirmation of vendors supplying inventory for existence.
Analytical procedures to determine completeness of inventory.
Testing for the valuation of inventory using the FIFO cost flow
assumption.
Reading the terms of the arrangements with vendors for
disclosure.
44. The extent of procedures is affected mostly by: (Points: 4)
the sheer volume of procedures to be applied by the auditor.
the time of year in which the client takes a physical inventory in
the warehouse.
the auditor's judgment that misstatements are probable in certain
balances.
the availability of the client's staff at or near the balance sheet
date.
45. An audit program is created to specify: (Points: 4)