
Auditing Management Assertions Quiz

Quiz
•
Business
•
University
•
Easy
Tri Nguyen
Used 10+ times
FREE Resource
12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a management assertion?
Valuation and allocation
Completeness
Accuracy
Independence
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of substantive procedures in auditing?
To assess internal control effectiveness
To evaluate financial statement assertions
To identify fraud risks
To ensure compliance with laws and regulations
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is not a test of control?
Inspection of documents
Observation
Confirmation
Inquiry
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When performing test of details, auditors are focusing on:
Internal control procedures
Sample size determination
Detailed testing of account balances
Risk assessment
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following procedures is a test of control?
Recalculation
Observing inventory count
Analytical procedures
Vouching
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main goal of management assertions in auditing?
Ensure audit report is issued on time
Present true and fair view of financial statements
Reduce audit risk to zero
Review internal audit findings
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In auditing, what is the purpose of test of controls?
To identify material misstatements
To detect fraud
To assess the effectiveness of internal controls
To confirm account balances
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