966140
Questão 1
Questão
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?
Responda
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One of the cashiers has been engaged in lapping.
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One of the sales clerks has not been preparing charge slips for credit sales to family and friends.
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The EDP control clerk has been removing all sales invoices applicable to his account from the data file.
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The credit manager has misappropriated remittances from customers whose accounts have been written-off.
Questão 2
Questão
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?
Responda
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Examine shipping documents.
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Review collections during the year being examined.
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Intensify the study of the client's internal control system with respect to receivables.
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Increase the balance in the accounts receivable allowance (contra) account.
Questão 3
Questão
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?
Responda
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Ascertain that management has included in the representation letter a statement that transactions have been accounted for in the proper accounting period.
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Confirm year-end transactions with regular customers.
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Examine cash receipts in the subsequent period.
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Analyze transactions occurring within a few days before and after year-end.
Questão 4
Questão
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
Responda
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Principle
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Procedure
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Standard
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Practice
Questão 5
Questão
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
Responda
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The cash receipts journal was held open after year-end.
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here is a large number of unrecorded liabilities.
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The sales journal was closed prior to year end.
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The sales journal was held open after year-end.
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