You are reviewing sales to discover cutoff problems. If the client’s policy is to record sales when title to the merchandise passes to the buyer, then...
The understatement of sales and accounts receivable is best uncovered by:
The understatement of sales and accounts receivable is best uncovered by:
a. confirming receivables.
b. reviewing the aged...
If the auditor decides not to confirm accounts receivable, the auditor should:
If the auditor decides not to confirm accounts receivable, the auditor should:
a. always use alternative procedures to audit...
Confirmation of accounts receivable balances normally provides evidence concerning the:
Confirmation of accounts receivable balances normally provides evidence concerning the:
a. valuation of the balances.
b. rights...
How might the auditor determine whether a client has limited rights to accounts receivable?
How might the auditor determine whether a client has limited rights to accounts receivable?
a. Review minutes from board...
An auditor should perform alternative procedures to substantiate the existence of accounts receivable when:
An auditor should perform alternative procedures to substantiate the existence of accounts receivable when:
a. no reply to a positive confirmation...
The positive (as opposed to the negative) form of receivables confirmation is preferred when:
The positive (as opposed to the negative) form of receivables confirmation is preferred when:
a. internal control surrounding...
Which of the following most likely would be detected by a review of a client’s sales cutoff?
Which of the following most likely would be detected by a review of a client’s sales cutoff?
a. Excessive sales discounts.
b. Unrecorded...
What are the possible disadvantages of evaluating the allowance for doubtful accounts by reviewing individual non-current balances?
What are the possible disadvantages of evaluating the allowance for doubtful accounts by reviewing individual non-current balances?
a. Current accounts...
For which of the following accounts is cutoff least important?
For which of the following accounts is cutoff least important?
a. Sales
b. Sales returns and allowances
c. Cash collections
d. Cutoff...
Generally accepted accounting principles require that sales returns and allowances be matched with related sales:
Generally accepted accounting principles require that sales returns and allowances be matched with related sales:
a. if practical.
b. if required...
When positive confirmations are used, auditing standards require follow-up procedures for confirmations not returned by the customer. In such a situation, which of the following would not be classified as an alternative procedure?
When positive confirmations are used, auditing standards require follow-up procedures for confirmations not returned by the customer. In such a situation,...
Which of the following procedures do most auditors perform when auditing the allowance for doubtful accounts?
Which of the following procedures do most auditors perform when auditing the allowance for doubtful accounts?
a. Examine credit files for select customers.
b. Inquire...
The advantage of using the negative form of confirmations is that:
The advantage of using the negative form of confirmations is that:
a. larger sample sizes can be used without increasing...
A positive confirmation is more reliable evidence than a negative confirmation because:
A positive confirmation is more reliable evidence than a negative confirmation because:
a. fewer confirmations can be sent...
The most important aspect of evaluating the client’s method of obtaining a reliable cutoff is to:
The most important aspect of evaluating the client’s method of obtaining a reliable cutoff is to:
a. perform extensive detailed...
Cutoff misstatements can occur for:
Cutoff misstatements can occur for:
a. sales.
b. sales returns and allowances.
c. cash collections.
d. any of the ab...
When do most companies record sales returns and allowances?
When do most companies record sales returns and allowances?
a. During the month in which the sale occurs.
b. During the...
Which of the following audit procedures would not likely detect a client’s decision to pledge or factor accounts receivable?
Which of the following audit procedures would not likely detect a client’s decision to pledge or factor accounts receivable?
a. A review of the minutes...
A customer mails and records a check to a client for payment of an unpaid account on December 30. The client receives and records the amount on January 2. The records of the two organizations will be different on December 31.
A customer mails and records a check to a client for payment of an unpaid account on December 30. The client receives and records the amount on January...
If the client’s internal control for recording sales returns and allowances is evaluated as ineffective:
If the client’s internal control for recording sales returns and allowances is evaluated as ineffective:
a. a larger sample is needed to verify cutoff.
...
An auditor discovers that the client records sales returns and allowances in the accounting period in which they occur, under the assumption of approximately equal offsetting errors at the beginning and end of each period.
An auditor discovers that the client records sales returns and allowances in the accounting period in which they occur, under the assumption of approximately...
Most tests of accounts receivable are based on what schedule, file, or listing?
Most tests of accounts receivable are based on what schedule, file, or listing?
a. Sales master file.
b. Aged accounts...
If accounts receivable accounts with credit balances are significant, they should be:
If accounts receivable accounts with credit balances are significant, they should be:
a. written off.
b. moved to the debit...
Because of its central role in auditing of accounts receivable, the ______________ is one of the first items tested.
Because of its central role in auditing of accounts receivable, the ______________ is one of the first items tested.
a. accounts receivable master...
When should auditors not perform alternative procedures in testing the accounts receivable balance?
When should auditors not perform alternative procedures in testing the accounts receivable balance?
a. When customers do not return confirmation requests.
...
The most important test of details of balances to determine the existence of recorded accounts receivable is:
The most important test of details of balances to determine the existence of recorded accounts receivable is:
a. tracing details of sales invoices...
Most tests of accounts receivable and the allowance for uncollected accounts are based on the:
Most tests of accounts receivable and the allowance for uncollected accounts are based on the:
a. general ledger balance...
The most important test of details of balances for accounts receivable is:
The most important test of details of balances for accounts receivable is:
a. confirmations.
b. recalculation of the aged...
Tests of details of balances are directed to:
Tests of details of balances are directed to:
a. balance sheet accounts for all cycles.
b. income statement accounts for...
The extent of the testing of detail tie-in of an aged trial balance depends on all but which of the following?
The extent of the testing of detail tie-in of an aged trial balance depends on all but which of the following?
a. The number of accounts involved.
...
The most important test of details of accounts receivable is the:
The most important test of details of accounts receivable is the:
a. detail tie-in of the records.
b. analysis of the allowance...
Analytical procedures are substantive tests and, if the results of the analytical procedures are favorable, the auditor will:
Analytical procedures are substantive tests and, if the results of the analytical procedures are favorable, the auditor will:
a. reduce the extent...
likely to be performed first when doing tests of details for accounts receivable?
Which of the following is likely to be performed first when doing tests of details for accounts receivable?
a. Recorded accounts receivable exist.
...
For cash receipts, the occurrence transaction-related audit objective affects the ______ balance-related audit objective.
For cash receipts, the occurrence transaction-related audit objective affects the ______ balance-related audit objective.
a. existence
b. completeness
...
For sales, the occurrence transaction-related audit objective affects the ______ balance-related audit objective.
For sales, the occurrence transaction-related audit objective affects the ______ balance-related audit objective.
a. existence
b. completeness
c....
A type of positive confirmation known as a blank confirmation:
A type of positive confirmation known as a blank confirmation:
a. requests the recipient to fill in the amount of the balance.
b. is considered less...
Communication addressed to the debtor requesting him or her to confirm whether the balance as stated on the communication is correct or incorrect is a:
Communication addressed to the debtor requesting him or her to confirm whether the balance as stated on the communication is correct or incorrect is...
Generally accepted accounting principles require that material sales returns and allowances be:
Generally accepted accounting principles require that material sales returns and allowances be:
a. recorded in the period when the merchandise is returned.
...
Cutoff misstatements occur:
Cutoff misstatements occur:
a. either by error or fraud.
b. by error only.
c. by fraud only.
d. randomly without causes...
Cut-off misstatements occur when:
Cutoff misstatements occur when:
a. the auditor mistakenly asks the bank for the end-of-year bank statement instead of the statement ...
Auditors are often concerned with three aspects of internal controls related to the sales and collection cycle. Which of the following is not one of those controls?
Auditors are often concerned with three aspects of internal controls related to the sales and collection cycle. Which of the following is not...
Testing the information on the aged trial balance for detail tie-in is a necessary audit procedure, which would normally include:
Testing the information on the aged trial balance for detail tie-in is a necessary audit procedure, which would normally include:
a. test footing the...
A listing of the balances in the accounts receivable master file at the balance sheet date, by total balance outstanding and by the amount of time the component parts have been outstanding, is the:
A listing of the balances in the accounts receivable master file at the balance sheet date, by total balance outstanding and by the amount of time the...
types of receivables would not deserve the special attention of the auditor
Which of the following types of receivables would not deserve the special attention of the auditor?
a. Accounts receivables with credit balances.
...
For most audits, inherent risk for accounts receivable is moderate or low except for which balance-related audit objectives?
For most audits, inherent risk for accounts receivable is moderate or low except for which balance-related audit objectives?
a. Timing and realizable...
Tests of which balance-related audit objective are normally performed first in an audit of the sales and collection?
Tests of which balance-related audit objective are normally performed first in an audit of the sales and collection?
a. Accuracy
b. Completeness
...
balance-related audit objective evaluated in the audit of accounts receivable
Which of the following is not a balance-related audit objective evaluated in the audit of accounts receivable?
a. Accuracy
b. Completeness
c. Rights
...
appropriate evidence to be obtained from tests of details must be decided on a(n)
The appropriate evidence to be obtained from tests of details must be decided on a(n):
a. efficiency basis.
b. effectiveness basis.
c. audit objectives...
The two primary classes of transactions in the sales and collection cycle are:
The two primary classes of transactions in the sales and collection cycle are:
a. sales and sales discounts.
b. sales and cash receipts.
c. sales...
balance-related audit objective evaluated in the audit of accounts receivable
Which of the following is not a balance-related audit objective evaluated in the audit of accounts receivable?
a. Timing
b. Realizable value
c. Completeness
...
Choose the best definition for the following phrase: combining like terms.
Choose the best definition for the following phrase: combining like terms.
A letter that holds the place for some unknown value in mathematics.
A...
Evaluate the following expression using the values given. Find 3x - y - 3z if x = -2, y = 1, and z = -2.
Evaluate the following expression using the values given.
Find 3x - y - 3z if x = -2, y = 1, and z = -2.
-13
-1
1
...
Simplify the following expression. 2x - 2y + 5z - 2x - y + 3z
Simplify the following expression.2x - 2y + 5z - 2x - y + 3z
x - 3y + 8z
2x - 2y + 8z
3y + 8z
-3y + ...
Natalie made a mistake in the following problem.
Natalie made a mistake in the following problem. What line was the mistake made in? Show your work and give the correct answer.
Line 1 6(4) ÷ 2 − 1...
Evaluate 15 − 4 + (7 − 5)2
Evaluate 15 − 4 + (7 − 5)2
15
13
21
...
Evaluate 9 − 3 • 2 + 4
Evaluate 9 − 3 • 2 + 4
6
7
15
...
Evaluate 62 ÷ (3 + 9)
Evaluate 62 ÷ (3 + 9)
3
4
12
21
...
Evaluate 48 + 24 ÷ 8 – 22
Evaluate 48 + 24 ÷ 8 – 22
47
51
55
...
When drawing a firearm, you must take care to...
When drawing a firearm, you must take care to...
[ ] A: Avoid offending other citizens.
[ ] B: Ensure the circumstances are appropriate.
[ ] C: Be fast.
[X...
Safe concealed carry of a firearm is...
Safe concealed carry of a firearm is...
[ ] A: Carrying the firearm in the back of your waistband.
[ ] B: Carrying the firearm in your sock.
[...
A safe location to store a firearm is...
A safe location to store a firearm is...
[X ] A: A locked container concealed from immediate view.
[ ] B: Underneath a bed.
[ ] C: Underneath a...
Your finger should be off the trigger until...
Your finger should be off the trigger until...
[ ] A: You holster the firearm.
[ ] B: You are going to fire.
[ ] C: You activate the safety device.
[...
You should not point a firearm at something unless...
You should not point a firearm at something unless...
[ X] A: You are confident/certain the safety device is engaged.
[ ] B: You are inside your...
Combination of 2 snehas____
Combination of 2 snehas____
a) Yamaka b)Maha snaha c)Acha sneha d)Sneha dravya&nbs...
ritashould be used at the end of ___rithu
ritashould be used at the end of ___rithu
a) Sisira b)Sarad c)Vasant d)Varsha&nbs...
Administer ghrita with salt for the treatment of
Administer ghrita with salt for the treatment of
a) Vata b)Pitta c)kapha d)all the abo...
Udarda is ____
Udarda is ____
a) Abdominal distension b) Fluid in chest c)Visha d)eycthyma&nbs...
The essence of all the dhathus is known as
The essence of all the dhathus is known as
a) Para b)Apara c)both a and b d)Sudha kapha&nbs...
Total number of combination of tastes will be
Total number of combination of tastes will be
a) 53 b) 63 c) 57 d) 67&nbs...
Tri hima includes
Tri hima includes
a) Chandana, raktha chandana, daru haridra b)Haridra, daru haridra, chandana c)Musta, parpat, kamala d)none&nbs...
Haritaki ___nama shreshtam
Haritaki ___nama shreshtam
a)Anulomana b)Rasayana c)Pathya d)Vatanuloma...
Sarva rasabyaso ___ karanam
Sarva rasabyaso ___ karanam
a)Dourbalya b)Bala c)Ayusha d) Dha...
Anu taila tatho nasya tatho___daranam
Anu taila tatho nasya tatho___daranam
a)Kavala b)Gandusha c)Tamboola d)both a and b&nbs...
The ___row of teeth should be brushed first
The ___row of teeth should be brushed first
a) Lower b) Upper c) both at a time d) vertically&nbs...
Brahma muhoortha uttishttastvastha rakshartham
Brahma muhoortha uttishttastvastha rakshartham
a) Prana b)swasa c)ayusha d)Rakta
...
Adhyayana nisidha kala___
Adhyayana nisidha kala___
a)Bukampa b)Rahu darshana c)Akala d)all the above
...
Purana is the function of___ dathu
Purana is the function of___ dathu
A) Raktha b)Mamsa c)Meda d)Maj...
Anuvasana matra should be___of the quantity of
Anuvasana matra should be___of the quantity of
a) 3/4 b)1/2 c)1/4 d)none&nbs...
Achha pana kala___days from mrudu koshta person?
Achha pana kala___days from mrudu koshta person?
a) 3 b) 4 c) 5 d) 6&nbs...
Prakopa of Vata, pitta, kapha occurs in ___ ritus respectively
Prakopa of Vata, pitta, kapha occurs in ___ ritus respectively
a)Sarad, hemanta varsha b)Hemant, varsha, sarad c)Varsha, sarad, hemant d)Sarad, hemant,...
Vidagdhajeerna is due to
Vidagdhajeerna is due to
a) Vata b)Pitta c)Kapha d)Tridosha&nbs...
Types of Nidra
Types of Nidra
a) 1 b)5 c)7 d)11&nbs...
Worst among phala varga is
Worst among phala varga is
a)Naranga b)Lakucha c)Panasa d)Draksha
...
Best among matsya varga is
Best among matsya varga is
a)Chilichima b)Kurmma c)Raji d)Rohitha&nbs...
___ comes under visishta mamsa varga
___ comes under visishta mamsa varga
a) Go b)Kukkuda c)Mushika d)Kapotha&nbs...
Worst among Shuka dhanya is
Worst among Shuka dhanya is
a)Kulatha b)yavaka c)Kalaya d)all the above&nbs...
Worst among Shali dhanyais
Worst among Shali dhanyais
a)Masha b)Kulatha c)Yava d)Kalaa...
Best among Brihi dhanya is
Best among Brihi dhanya is
a)Shastika Sali b)Yava c)Mudga d)Godhuma&nbs...
Best among Shuka danya
Best among Shuka danya
a)Mudga b)Shashtikka Sali c)Kulatha d)Raktha Sali&nbs...
Sukta (wine) is prepared by
Sukta (wine) is prepared by
a)Ikshu b)Roots and Tubers c)Patras and Pallava d)Draksha&nbs...
Phanitha is a product of
Phanitha is a product of
a)Ikshu b)Madhu c)Dadhi d)Ghrita&nbs...
Kilata is a preparation made by heating
Kilata is a preparation made by heating
a) Takra b)Dadhi c)both a and b d)Sura&nbs...
The contents of this type of file can be viewed in an editor such as Notepad.
The contents of this type of file can be viewed in an editor such as Notepad.
a. text file
b. binary file
c. English file
d. human-readable file...
This removes an item at a specific index in a list.
This removes an item at a specific index in a list.
a. The remove method
b. The delete method
c. The del statement
d. The kill method
...
This list method adds an item to the end of an existing list.
This list method adds an item to the end of an existing list.
a. add
b. add_to
c. increase
d. append
...
>>> a = ['Mary', 'had', 'a', 'little', 'lamb']
>>> for i in range(len(a)):
... print i, a[i]
a[4] would be
a. a
b....
This string method returns a copy of the string with all leading whitespace characters removed.
This string method returns a copy of the string with all leading whitespace characters removed.
a. lstrip
b. rstrip
c. remove
d. strip_leading
...
This function returns the length of a string.
This function returns the length of a string.
a. length
b. size
c. len
d. lengthof
...
This is the last index in a string.
This is the last index in a string.
a. 1
b. 99
c. 0
d. The size of the string minus one
...
This is the first index in a string.
This is the first index in a string.
a. -1
b. 1
c. 0
d. The size of the string minus one
...
The H.C.F. of two numbers is 23 and the other two factors of their L.C.M. are 13 and 14. The larger of the two numbers is
The H.C.F. of two numbers is 23 and the other two factors of their L.C.M. are 13 and 14. The larger of the two numbers is
a) 276
b) 299
c) 322
d) 3...
A bag contains 2 red, 3 green and 2 blue balls. Two balls are drawn at random. What is the probability that none of the balls drawn is blue ?
A bag contains 2 red, 3 green and 2 blue balls. Two balls are drawn at random. What is the probability that none of the balls drawn is blue ?
a) 10/21
b)...
Three times the first of three consecutive odd integers is 3 more than twice the third. The third integer is
Three times the first of three consecutive odd integers is 3 more than twice the third. The third integer is
a) 9
b) 13
c) 11
d) ...
A man standing at a point P is watching the top of a tower, which makes an angle of elevation of 30° with the man's eye. The man walks some distance towards the tower to watch its top and the angle of the elevation becomes 60°. What is the distance between the base of the tower and the point P ?
A man standing at a point P is watching the top of a tower, which makes an angle of elevation of 30° with the man's eye. The man walks some distance...
The sum of ages of 5 children born at the intervals of 3 years each is 50 years. What is the age of the youngest child ?
The sum of ages of 5 children born at the intervals of 3 years each is 50 years. What is the age of the youngest child ?
a) 4 years
b) 8 years
c) 10...
Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3,508, what was the amount invested in Scheme B ?
Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively....
An aeroplane covers a certain distance at a speed of 240 kmph in 5 hours. To cover the same distance in hours, it must travel at a speed of
An aeroplane covers a certain distance at a speed of 240 kmph in 5 hours. To cover the same distance in hours, it must travel at a speed of
a) 300 kmph
b)...
A train 125 m long passes a man, running at 5 km/hr in the same direction in which the train is going, in 10 seconds ? The speed of the train is
A train 125 m long passes a man, running at 5 km/hr in the same direction in which the train is going, in 10 seconds ? The speed of the train is
a) 45...
'Malt', a stage of grains during beer formation refers to the
'Malt', a stage of grains during beer formation refers to the
a) Germinated wet grain
b) Dry grain
c) Mashed grain
d) Powered gra...
What should come in place of both x in the equation ?
What should come in place of both x in the equation ?
a) 12
b) 14
c) 144
d) 1...
The 'Red Data Book' containing information on all wild plants and animals in danger of extinction has been published by which one of the following ?
The 'Red Data Book' containing information on all wild plants and animals in danger of extinction has been published by which one of the following ?
a)...
What is the maximum number of points in space that can be equidistant from each other?
What is the maximum number of points in space that can be equidistant from each other?
a) 3
b) 4
c) 5
d)...
Two students appeared at an examination. One of them secured 9 marks more than the other and his marks was 56% of the sum of their marks. The marks obtained by them are
Two students appeared at an examination. One of them secured 9 marks more than the other and his marks was 56% of the sum of their marks. The marks obtained...
The power to appoint members of the Union Public Service Commission rests with the
The power to appoint members of the Union Public Service Commission rests with the
a) President
b) Prime Minister
c) Parliament
d) Ministers for Home...
What is the probability that the product of two consecutive non-negative integers will be a Number ending with 0.
What is the probability that the product of two consecutive non-negative integers will be a Number ending with 0.
a) 0.2
b) 0.25
c) 0.3
d) 0...
Light emitted by the sun reaches the earth in
Light emitted by the sun reaches the earth in
a) 1 second
b) 10 seconds
c) 13 seconds
d) None of the...
A can lay railway track between two given stations in 16 days and B can do the same job in 12 days. With help of C, they did the job in 4 days only. Then, C alone can do the job in
A can lay railway track between two given stations in 16 days and B can do the same job in 12 days. With help of C, they did the job in 4 days only....
In how many different ways can the letters of the word ‘LEADING' be arranged in such a way that the vowels always come together ?
In how many different ways can the letters of the word ‘LEADING' be arranged in such a way that the vowels always come together ?
a) 360
b) 480
c) 720
d)...
The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is
The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is
a) 15
b) 16
c) 18
d) ...
An error 2% in excess is made while measuring the side of a square. The percentage of error in the calculated area of the square is
An error 2% in excess is made while measuring the side of a square. The percentage of error in the calculated area of the square is
a) 2%
b) 2.02%
c)...
The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is
The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in...
Which is used as a magnifying glass ?
Which is used as a magnifying glass ?
a) Plane mirror
b) Concave mirror
c) Converging lens
d) Diverging le...
The banker's discount on Rs. 1,600 at 15% per annum is the same as true discount on Rs. 1,680 for the same time and at the same rate. The time is
The banker's discount on Rs. 1,600 at 15% per annum is the same as true discount on Rs. 1,680 for the same time and at the same rate. The time is
a)...
A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6,500 for 6 months, B, Rs. 8,400 for 5 months and C, Rs. 10,000 for 3 months. A wants to be the working member for which, he was to receive 5% of the profits. The profit earned was Rs. 7,400. Calculate the share of B in the profit.
A, B and C jointly thought of engaging themselves in a business venture. It was agreed that A would invest Rs. 6,500 for 6 months, B, Rs. 8,400...
112 * 544 = ?
a) 67000
b) 70000
c) 76500
d) 772...
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