51 câu tiếp KTTC1

51) Which of the following audit tests would be regarded as a test of controls?

• A) comparison of the inventory pricing to vendors' invoices

  
  

• B) tests of the signatures on canceled checks to board of directors' authorizations

• C) tests of the additions to property, plant, and equipment by physical inspections

• D) review of the specific items making up the balance in a given general ledger account

52) Which of the following audit tests form the basis for an auditor's report on internal control over financial reporting?

• A) analytical procedures

• B) tests of transactions

• C) tests of controls

• D) tests of details of balances

53) One type of shipping document is the ________, which is a written contract between the carrier and the seller of the receipt and shipment of goods.

• A) sales order

• B) bill of lading

• C) sales invoice

• D) customer order

44) The document used to indicate to the customer the amount of a sale and payment due date is the

• A) sales invoice.

• B) bill of lading.

• C) purchase order.

• D) sales order.

45) Which of the following is a business function related to sales returns and allowances?

• A) processing customer orders

• B) writing off uncollectible accounts

• C) processing and recording credit memos

• D) granting credit

46) Which one the following procedures performed for the billing function provides evidence for the completeness assertion?

• A) making sure that all shipments have been billed

• B) making sure that no shipment has been billed more than twice

• C) making sure that each shipment is billed at the correct amount

• D) making sure that each shipment is billed to the proper customer

47) Which of the following test of controls is useful to test the completeness objective for cash receipts?

• A) Compare shipping documents with sales records.

• B) Observe endorsement of incoming checks.

• C) Examine evidence that the receivable master file is reconciled to the general ledger.

• D) Observe if the client reconciles the bank account.

48) Audit procedures designed to uncover credit sales made after the client's fiscal year-end that relate to the current year being audited provide evidence for which of the following audit objectives?

• A) realizable value

• B) accuracy

  
  

• C) cutoff

  
  

• D) existence

  
  

10) Cutoff misstatements occur

• A) either by error or fraud.

  
  

• B) by error only.

  
  

• C) by fraud only.

  
  

• D) randomly without causes related to errors or fraud.

  
  

11) How might the auditor determine whether a client has limited rights to accounts receivable?

• A)

  Review minutes from board of directors meetings   Inquiries of the client

  Yes Yes

  
  

• B)

  Review minutes from board of directors meetings   Inquiries of the client

  No No

  
  

• C)

  Review minutes from board of directors meetings   Inquiries of the client

  YesNo

• D)

  Review minutes from board of directors meetings   Inquiries of the client

  No Yes