DeVry ACCT 444 Week 1-5 Complete Quizzes

4. (TCO 6) Which of the following tests commonly occur together? (Points : 3)
Substantive tests of transactions and tests of controls
Substantive tests of transactions and obtaining an understanding of internal controls
Analytical procedures and tests of controls
All of the above
4. (TCO 6) Which of the following relationships between types of tests and audit evidence is not
correct? (Points : 3)
Tests of details and documentation
Tests of controls and observation
Tests of details and observation
Substantive tests of transactions and reperformance
5. (TCO 6) The sequence of steps in gathering evidence as the basis of the auditor’s opinion are
(Points : 3)
substantive tests, initial assessment of control risk, and tests of controls.
initial assessment of control risk, substantive tests, and tests of controls.
initial assessment of control risk, tests of controls, and substantive tests.
tests of controls, initial assessment of control risk, and substantive tests.
5. (TCO 6) The purpose of tests of controls is to provide reasonable assurance that the (Points :
3)
accounting treatment of transactions and balances is valid and proper.
internal control procedures are functioning as intended.
entity has complied with GAAP disclosure requirements.
entity has complied with requirements of quality control.
6. (TCO 9) It is important that sales be billed and recorded in the journal as soon as possible
after (Points : 3)
the order is received.