ACC551-Ch4

ACC551-Ch4

University

5 Qs

quiz-placeholder

Similar activities

RED LIGHT-GREEN LIGHT ACPAUD2

RED LIGHT-GREEN LIGHT ACPAUD2

University

7 Qs

AUDITING

AUDITING

University

10 Qs

Audit Planning ICS

Audit Planning ICS

University

10 Qs

Audit of Shareholder's Equity

Audit of Shareholder's Equity

University

8 Qs

TUGAB CUP-Easy Round

TUGAB CUP-Easy Round

University

10 Qs

RQA Bulletin V4

RQA Bulletin V4

University

10 Qs

Accounting Cycle

Accounting Cycle

University

10 Qs

Module 2 - Audit Planning

Module 2 - Audit Planning

University

10 Qs

ACC551-Ch4

ACC551-Ch4

Assessment

Quiz

Other

University

Medium

Created by

John T

Used 6+ times

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

If inherent risk and control risk are low, the auditor can set detection risk as high.

True

False

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Materiality is assessed during the risk assessment phase of every audit.

True

False

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Key performance indicators used by a client to monitor its performance provide an auditor insight into which accounts are potentially at risk of misstatement.

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Inventory turnover measures how many times a year a company collects cash from its debtors.

True

False

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

When classifying risks, significant consideration is not given to whether the risk

is related to significant economic or accounting developments

involves simple transactions

involves significant related party transactions

involves fraud