ACC 562 EDU Extraordinary Success/acc562edu.com ACC 562 EDU Extraordinary Success/acc562edu.com | Page 3

True
False
8. Audit documentation serves as support for the financial statements.
(Points: 4)
True
False
9. In analysis of the results of audit sampling, an auditor may
determine that the sample size must be increased. (Points: 4)
True
False
10. The revenue cycle considered by auditors includes the sales process
but not collections. (Points: 4)
True
False
11. Inventory is complex and typically considered a high-risk area in
audits of service firms. (Points: 4)
True
False