DeVry ACCT 444 Week 1-5 Complete Quizzes
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helpful procedures not possessing the validity of other tests available to the auditor.<br />
2. (TCO 6) Which of the following is not a direct result of performing analytical procedures?<br />
(Points : 3)<br />
Identify areas of potential misstatements.<br />
Reduce detailed audit risk.<br />
Understand the client’s business.<br />
Identify specific errors in the accounts.<br />
2. (TCO 6) Analytical procedures may be classified as being primarily (Points : 3)<br />
tests of controls.<br />
substantive tests.<br />
tests of ratios.<br />
tests of details of balances.<br />
3. (TCO 6) Which of the following audit tests is usually the least costly to perform? (Points : 3)<br />
Analytical procedures<br />
Tests of controls<br />
Tests of balances<br />
Substantive tests of transactions<br />
3. (TCO 6) Which of the following audit tests is usually the most costly to perform? (Points : 3)<br />
Analytical procedures<br />
Tests of controls<br />
Tests of balances<br />
Substantive tests of transactions
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