the warehouse.
40. Which one of the following would be the least persuasive type of evidence?( Points: 4) Confirmations returned by bank directly to the auditor. Letters of communication from the Securities Exchange
Commission. Physical examination of perpetual inventory. General ledger in a newly developed information system.
41. The primary support of an audit is( are)( Points: 4) the financial statements. the audit working papers. the audit report. the confirmation documentation.
42. The primary assertion that is satisfied by physically observing the client ' s count of inventory is( Points: 4) existence. rights. valuation. completeness.
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.