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CPA Exam Sample Questions Pt. 1

nedtuohy 5 Fragen 2.733 Aufrufe 4,8 (18 Bewertungen)

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  1. 1An 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?
    1. AOne of the cashiers has been engaged in lapping.
    2. BOne of the sales clerks has not been preparing charge slips for credit sales to family and friends.
    3. CThe EDP control clerk has been removing all sales invoices applicable to his account from the data file.
    4. DThe credit manager has misappropriated remittances from customers whose accounts have been written-off.
  2. 2Customers 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?
    1. AExamine shipping documents.
    2. BReview collections during the year being examined.
    3. CIntensify the study of the client's internal control system with respect to receivables.
    4. DIncrease the balance in the accounts receivable allowance (contra) account.
  3. 3To 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?
    1. AAscertain that management has included in the representation letter a statement that transactions have been accounted for in the proper accounting period.
    2. BConfirm year-end transactions with regular customers.
    3. CExamine cash receipts in the subsequent period.
    4. DAnalyze transactions occurring within a few days before and after year-end.
  4. 4The confirmation of the client's trade accounts receivable is a means of obtaining evidential matter and is specifically considered to be generally accepted auditing
    1. APrinciple
    2. BProcedure
    3. CStandard
    4. DPractice
  5. 5Approximately 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
    1. AThe cash receipts journal was held open after year-end.
    2. Bhere is a large number of unrecorded liabilities.
    3. CThe sales journal was closed prior to year end.
    4. DThe sales journal was held open after year-end.

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Beschreibung
Audit Testing sample questions from the CPA Exam.
Sprache
English
Aufrufe
2.733
Bewertung
4,8 von 5 · 18 Bewertungen
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