Auditing Management Assertions Quiz

Auditing Management Assertions Quiz

University

12 Qs

quiz-placeholder

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Auditing Management Assertions Quiz

Auditing Management Assertions Quiz

Assessment

Quiz

Business

University

Easy

Created by

Tri Nguyen

Used 10+ times

FREE Resource

12 questions

Show all answers

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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