DeVry ACCT 444 Week 1-5 Complete Quizzes

Internal documents are documents that are generated within the company and used to communicate with
external parties.
External documents are documents that are generated outside of the company and are used to
communicate the results of a transaction.
All of the above are correct statements
Chapter 7
2. (TCO 6) Which of the following is not a purpose of analytical procedures? (Points : 3)
Understand the client’s industry
Assess the client’s ability to continue as a going concern
Identify misstatements
Reduce detailed audit tests
Chapter 7
2. (TCO 6) Analytical procedures are (Points : 3)
diagnostic tests of financial information that may not be classified as evidential matter.
calculations of financial information made by a computer.
substantive tests of financial information made by a study and comparison of relationships among data.
statistical tests of financial information designed to identify areas requiring intensive investigation.
Chapter 7
2. (TCO 6) When analytical procedures reveal no unusual fluctuations, the implication is that
(Points : 3)
there are no material errors or irregularities.
there are no material errors.
there are no material irregularities.
the possibility of a material error or irregularity is lessened.
Chapter 7