California State University, Stanislaus ACCOUNTING 4110 Chapter 5: 1)Which of the following is not a financial statement assertion made by management? Which of the following business characteristics is not indicative of high inherent risk? As part of their audit, auditors obtain a representation letter from their client

California State University, Stanislaus

ACCOUNTING 4110

Chapter 5:

1)Which of the following is not a financial statement assertion made by management?

2. Which of the following business characteristics is not indicative of high inherent risk?
3. As part of their audit, auditors obtain a representation letter from their client. Which of the following is not a valid purpose of such a letter?
4. Which of the following statements best describes why auditors investigate related party transactions?
5. Of the following, which is the least reliable type of audit evidence?
6. Analytical procedures are most likely to detect:
7. Which of the following is not a primary approach to auditing an accounting estimate?
8. A primary purpose of the audit working papers is to:
9. In what section of the audit working papers would a long-term lease agreement be filed?
10. Which of the following is not a function of audit working papers?
11. In using the work of a specialist, the auditors referred to the specialist’s findings in their report. This would be an appropriate reporting practice if the:
12. A difference of opinion concerning accounting and auditing matters relative to a particular phase of the audit arises between an assistant auditor and the auditor responsible for the engagement. After appropriate consultation, the assistant auditor asks to be disassociated from the resolution of the matter. The working papers would probably: