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    Sample/practice Exam 10 May 2019, Questions and Answers Sample/practice Exam 10 May 2019, Questions and Answers

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    ben yi
    This document contains sample exam questions and answers for an auditing exam at Moi University. The first question asks which PCAOB assertion is best verified by various audit procedures, including confirming inventory held on consignment, consulting stock prices, examining property additions, and reviewing aged receivables. The answers are rights and obligations, valuation or allocation, existence or occurrence, and valuation or allocation respectively.

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    Sample/practice Exam 10 May 2019, Questions and Answers Sample/practice Exam 10 May 2019, Questions and Answers

    Uploaded by

    ben yi
    33 views2 pages
    This document contains sample exam questions and answers for an auditing exam at Moi University. The first question asks which PCAOB assertion is best verified by various audit procedures, including confirming inventory held on consignment, consulting stock prices, examining property additions, and reviewing aged receivables. The answers are rights and obligations, valuation or allocation, existence or occurrence, and valuation or allocation respectively.

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    This document contains sample exam questions and answers for an auditing exam at Moi University. The first question asks which PCAOB assertion is best verified by various audit procedures, including confirming inventory held on consignment, consulting stock prices, examining property additions, and reviewing aged receivables. The answers are rights and obligations, valuation or allocation, existence or occurrence, and valuation or allocation respectively.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    33 views2 pages

    Sample/practice Exam 10 May 2019, Questions and Answers Sample/practice Exam 10 May 2019, Questions and Answers

    Uploaded by

    ben yi
    This document contains sample exam questions and answers for an auditing exam at Moi University. The first question asks which PCAOB assertion is best verified by various audit procedures, including confirming inventory held on consignment, consulting stock prices, examining property additions, and reviewing aged receivables. The answers are rights and obligations, valuation or allocation, existence or occurrence, and valuation or allocation respectively.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    lOMoARcPSD|6242499

    Sample/practice exam 10 May 2019, questions and answers

    Auditing (Moi University)

    StuDocu is not sponsored or endorsed by any college or university


    Downloaded by Mikay Lising (mikaylising28@gmail.com)
    lOMoARcPSD|6242499

    CH1:

    1. Which of PCAOB assertions are best verified by the following audit procedures?
    A. Existence or occurrence
    B. Rights and obligations
    C. Valuation or allocation
    D. Completeness
    E. Presentation and disclosure

    ____B__ 1. Confirming inventory held on consignment by the client with independent


    third party.
    ____C__ 2. Consulting the Wall Street Journal for year-end prices of securities held by
    the client.
    ___A___ 3. Physically examine all major property and equipment additions.
    ___C___ 4. Review the aged trial balance for significant past due accounts.

    Downloaded by Mikay Lising (mikaylising28@gmail.com)

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