CA Foundation Business Economics Questions 2023 - Part 32
Fri, 03 Mar 2023
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Audit CPA exam Practice Questions 2023 - Part 2
1. Which of the following is NOT a main element of a sales system?
A) Receiving orders from customers
B) Marketing
C) Dispatching the goods and invoicing customers
D) Recording sales and debtors in the accounts
2. Which should NOT be considered at the planning stage?
A) The timing of the audit
B) Analytical review
C) Last yearâ??s written representation letter
D) Obtaining written representations
3. At the planning stage you would NOT consider:
A) the timing of the audit
B) whether corrections from the inventory count have been implemented
C) last yearâ??s audit
D) the potential use of internal audit
4. In case of unclaimed wages, the auditor should examine whether
A) The amount has been deposited in a separate bank account
B) The amount has been deposited with cashier
C) The amount has held in a safe deposit box
D) All of these
5. Cut-off testing is performed during audit of sales to address the following income statement assertion
A) Occurrence
B) Measurement
C) Completeness
D) All of the above
A) Receiving orders from customers
B) Marketing
C) Dispatching the goods and invoicing customers
D) Recording sales and debtors in the accounts
2. Which should NOT be considered at the planning stage?
A) The timing of the audit
B) Analytical review
C) Last yearâ??s written representation letter
D) Obtaining written representations
3. At the planning stage you would NOT consider:
A) the timing of the audit
B) whether corrections from the inventory count have been implemented
C) last yearâ??s audit
D) the potential use of internal audit
4. In case of unclaimed wages, the auditor should examine whether
A) The amount has been deposited in a separate bank account
B) The amount has been deposited with cashier
C) The amount has held in a safe deposit box
D) All of these
5. Cut-off testing is performed during audit of sales to address the following income statement assertion
A) Occurrence
B) Measurement
C) Completeness
D) All of the above
1. Right Answer: B
Explanation:
2. Right Answer: B
Explanation:
3. Right Answer: B
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: C
Explanation:
Explanation:
2. Right Answer: B
Explanation:
3. Right Answer: B
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: C
Explanation:
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