ACCT 555 help A Guide to career/Snaptutorial ACCT 555 help A Guide to career/Snaptutorial | Page 5

have a material effect on the financial statements. Which of the
following, if material, is a fraud as defined in auditing standards?
b. What assurance does the auditor provide that errors, fraud, and
direct-effect illegal acts that are material to the financial statements
will be detected?
6-27 (Objectives 6-6, 6-7) The following are specific transaction-
related audit objectives applied to the audit of cash disbursement
transactions (a through f), management assertions about classes of
transactions (1 through 5), and general transaction-related audit
objectives (6 through 11).
Specific Transaction-Related Audit Objective
a. Recorded cash disbursement transactions are for the amount of
goods or services received and are correctly recorded.
7-25 (Objectives 7-3, 7-4) The following questions concern
persuasiveness of evidence. Choose the best response.
a. Which of the following types o f documentary evidence should the
auditor consider to be the most reliable?
b. Which of the following statements concerning audit evidence is
true?
c. Audit evidence can come in different forms with different degrees
of persuasiveness. Which of the following is the least persuasive type
of evidence?
d. Which of the following presumptions is correct about the reliability
of audit evidence?
7-26 (Objectives 7-5, 7-6) The following questions concern audit
documentation. Choose the best response.
a. Which of the following is not a primary purpose of audit
documentation?