ACC 562 help A Guide to career/uophelp.com ACC 562 help A Guide to career/uophelp.com | Page 3

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
12. An auditor can utilize a cross-sectional analysis for a client operating
in multiple locations to identify areas of further inventory testing.
(Points: 4)
True
False
13. Legal expenses are reviewed by auditors for possible litigation and
related FAS 5 treatment. (Points: 4)
True
False
14. An imprest payroll account will never reach a zero balance. (Points:
4)
True
False