Test
CPA Exam Sample Questions Pt. 1
Preguntas del test (5)
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?
- AOne of the cashiers has been engaged in lapping.
- BOne of the sales clerks has not been preparing charge slips for credit sales to family and friends.
- CThe EDP control clerk has been removing all sales invoices applicable to his account from the data file.
- DThe credit manager has misappropriated remittances from customers whose accounts have been written-off.
- AOne of the cashiers has been engaged in lapping.
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?
- AExamine shipping documents.
- BReview collections during the year being examined.
- CIntensify the study of the client's internal control system with respect to receivables.
- DIncrease the balance in the accounts receivable allowance (contra) account.
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?
- AAscertain that management has included in the representation letter a statement that transactions have been accounted for in the proper accounting period.
- BConfirm year-end transactions with regular customers.
- CExamine cash receipts in the subsequent period.
- DAnalyze transactions occurring within a few days before and after year-end.
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
- APrinciple
- BProcedure
- CStandard
- DPractice
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
- AThe cash receipts journal was held open after year-end.
- Bhere is a large number of unrecorded liabilities.
- CThe sales journal was closed prior to year end.
- DThe sales journal was held open after year-end.
Información
- Descripción
- Audit Testing sample questions from the CPA Exam.
- Autor
- nedtuohy
- Idioma
- English
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