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Post-Test

Select the best possible answers for each of the following questions.

This activity contains 10 questions.

Question 1.
Which of the following statements best describes why auditors investigate related party transactions?


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Question 2.
The objective in an auditor's review of credit ratings of a client's customers is to obtain evidence related to management's assertion about


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Question 3.
When auditing the existence assertion for an asset, auditors proceed from the


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Question 4.
Confirmation of accounts receivable provides evidence primarily about these two assertions.


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Question 5.
Audit standards require an auditor to


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Question 6.
The auditor is most likely to presume that a high risk of a fraud exists if


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Question 7.
Which of the following, if material, would constitute fraud?


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Question 8.
According to the definition in the CICA Handbook Section 5135, "Auditor's Responsibility to Detect and Communicate Misstatements," which of the following circumstances would be classified as an error?


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Question 9.
In the context of an audit of financial statements, substantive tests are audit procedures that


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Question 10.
Analytical procedures may be classified as being primarily


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