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Audit Testing sample questions from the CPA Exam.

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CPA Exam Sample Questions Pt. 1

Questão 1 de 5

1

An auditor confirms a representative number of A/R and investigates respondents exceptions and comments. By this procedure the auditor would be most likely to learn which of the following?

Selecione uma das seguintes:

  • One of the cashiers has been engaged in lapping.

  • One of the sales clerks has not been preparing charge slips for credit sales to family and friends.

  • The EDP control clerk has been removing all sales invoices applicable to his account from the data file.

  • The credit manager has misappropriated remittances from customers whose accounts have been written-off.

Explicação

Questão 2 de 5

1

Customers having substantial year-end past due balances fail to reply after second request forms have been mailed directly to them. Which of the following is the most appropriate audit procedure?

Selecione uma das seguintes:

  • Examine shipping documents.

  • Review collections during the year being examined.

  • Intensify the study of the client's internal control system with respect to receivables.

  • Increase the balance in the accounts receivable allowance (contra) account.

Explicação

Questão 3 de 5

1

To determine that sales transactions have been recorded in the proper accounting period, the auditor performs a cut-off review. Which of the following best describes the overall approach used when performing a cut-off review?

Selecione uma das seguintes:

  • Ascertain that management has included in the representation letter a statement that transactions have been accounted for in the proper accounting period.

  • Confirm year-end transactions with regular customers.

  • Examine cash receipts in the subsequent period.

  • Analyze transactions occurring within a few days before and after year-end.

Explicação

Questão 4 de 5

1

The confirmation of the client's trade accounts receivable is a means of obtaining evidential matter and is specifically considered to be generally accepted auditing

Selecione uma das seguintes:

  • Principle

  • Procedure

  • Standard

  • Practice

Explicação

Questão 5 de 5

1

Approximately 95% of returned accounts receivable confirmations indicated that the customer owed a smaller balance than the amount confirmed. This might be explained by the fact that

Selecione uma das seguintes:

  • The cash receipts journal was held open after year-end.

  • here is a large number of unrecorded liabilities.

  • The sales journal was closed prior to year end.

  • The sales journal was held open after year-end.

Explicação

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