Aixttting

414

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ns and
C. Transactiocounting period. didirih_ii,tht
correct ac
s,
d. All asset 4
ded have been recorded.liab
been recor
d obligations assertion applies to
18. The rights an
and disclosure matters
a. presentation
nsactions and events during the
b. classes of tra
at period-end
c. account balances
n of income statement accounts
d. proper classificatio
ot correct .
19. Which statement(s) is(are) n
k he uditor
a. Control risk is the ris t a w ill not detect a
exists in an assertion
material misstatement that
b. Inherent risk is the susceptibility of an assertion to a
material misstatement, assuming that there a re
no
related internal control structure, policies or procedures
C. Both a and b
d. Neither a nar b

20. Which statement is correct regarding audit evidence?

a.
Audit evidence is all. the information used by the auditor in
arriving at the conclusions on which the audit opini based
b. on is

Audit evidence include only the tiformationthe ccoonn

accounting records u n d e rl y i n g the tained in
state me nts finan c ial
c.
d. Audit evidence is not cumulative in nature.
Auditors are expected to address all inform at exist.
ion that may

21. Other information that the auditor may us least

likely includes e as audit evidence
b M inutes of meetings
c. Confirmation from third partie
Informati on obt ai ne d s.
by t he
procedures as inquiry, o auditor from
d. General and subsidiary l bservatron and such
edgers if Pection. audit
or 24