ACCT 444 DeVry Week 3 Complete Work Latest

none of the above.
Question 2. Question : (TCO 6) Analytical procedures are
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.
Question 3. Question : (TCO 6) Which of the following statements regarding analytical procedures is not correct?
The definition of analytical tests emphasizes a comparison of client's data to GAAP.
Analytical procedures are required on all audits.
Analytical procedures can be used as substantive tests.
For certain accounts with small balances, analytical procedures alone may be sufficient evidence.
Question 4. Question : (TCO 6) Which of the following statements about confirmation is true?
Confirmations are expensive and so are often not used.
Confirmations may inconvenience those asked to supply them, but they are widely used.
Confirmations are sometimes not reliable and so auditors use them only as necessary.
None of the above statements are true.
Question 5. Question : (TCO 7) Analytical procedures used in planning an audit should focus on identifying
material weaknesses of internal control.
the predictability of financial data from individual transactions.
the various assertions that are embodied in the financial statements.
areas that may represent specific risks relevant to the audit.
Question 6. Question : (TCO 7) A measure of the auditor's assessment of the likelihood that there are material
misstatements in an account before considering the effectiveness of the client's internal control is
acceptable audit risk.
control risk.
inherent risk.
statistical risk.
Question 7. Question : (TCO 7) Which of the following is not correct regarding the communications between
successor and predecessor auditors?
The burden of initiating the communication rests with the predecessor auditor.
The burden of initiating the communication rests with the successor auditor.
The predecessor auditor must receive their former client's permission prior to divulging information to the successor
auditor.
The predecessor auditor may choose to provide a limited response to a successor auditor.
Question 8. Question : (TCO 8) The preliminary judgment about materiality is the _____ amount by which the
auditor believes the statements could be misstated and still not affect the decisions of reasonable users.
minimum