ACCT 444 Week 3 Homework Problems
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7-27 ( Objective 7-4 ) The following are examples of documentation typically obtained by auditors :
7-30 ( Objective 7-4 ) Eight different types of evidence were discussed . The following questions concern the reliability of that evidence :
7-31 ( Objective 7-4 ) As auditor of the Star Manufacturing Company , you have obtained
8-22 ( Objective 8-7 ) Gale Gordon , CPA , has found ratio and trend analysis relatively useless as a tool in conducting audits . For several engagements , he computed the industry ratios included in publications by Standard and Poor ’ s and compared them with industry standards . For most engagements , the client ’ s business was significantly different from the industry data in the publication and the client automatically explained away any discrepancies by attributing them to the unique nature of its operations . In cases in which the client had more than one branch in different industries , Gordon found the ratio analysis no help at all . How can Gordon improve the quality of his analytical procedures ?
8-33 ( Objectives 8-3 , 8-7 , 8-8 ) Your comparison of the gross margin percent for Jones Drugs for the years 2008 through 2011 indicates a significant decline . This is shown by the following information :
9-33 ( Objectives 9-6 ) Below are ten independent risk factors :