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ACCT 591 DeVry Week 5 Quiz Latest

ACCT 591 DeVry Week 5 Quiz

ACCT 591 DeVry Week 5 Quiz Latest Downloading is very simple, you can download this Course here: http://wiseamerican.us/product/acct-591-devry-week-5-quiz-latest/ Or Contact us at: SUPPORT@WISEAMERICAN.US ACCT 591 DeVry Week 5 Quiz Latest ACCT591 ACCT 591 DeVry Week 5 Quiz Latest Question 1.1. (TCOs B and C) (CPA-05615.B) Jackson is auditing the financial statements of Saffer Company, an issuer. Which of the following is true? (Points : 10) o o o o Jackson is not required to audit internal control, but should report any significant deficiencies or material weaknesses noted. Saffer is required to obtain an audit of its internal control, but a professional other than Jackson may be hired for this purpose. Jackson is required to audit and report on Saffer's internal control. If Jackson provides an adverse opinion on the financial statements, an audit of Saffer's internal control is not permitted. Question 2.2. (TCOs B and C) (CPA-06853.B) An auditor discovers that an account balance believed not to be materially misstated based on an audit sample was materially misstated based on the total population of the account balance. This is an example of which of the following sampling types of risks? (Points : 10) o o o o Incorrect rejection. Incorrect acceptance. Assessing control risk too low. Assessing control risk too high. Question 3.3. (TCOs B and C) (CPA-02600.B) An advantage of statistical sampling over nonstatistical sampling is that statistical sampling helps an auditor to: (Points : 10) o o o o Eliminate the risk of nonsampling errors. Reduce the level of audit risk and materiality to a relatively low amount. Measure the sufficiency of the audit evidence obtained. Minimize the failure to detect errors and fraud. Question 4.4. (TCOs B and C) (CPA-02617.B) Which of the following sample planning factors would influence the sample size for a substantive test of details for a specific account? Expected Measure of amount of tolerable misstatements misstatement (Points : 10)

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