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Post-Test

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

This activity contains 10 questions.

Question 1.
In the context of an audit of financial statements, substantive tests are audit procedures that


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Question 2.
Which of the following is not an auditing procedure that is commonly used in performing tests of controls?


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Question 3.
The auditor generally gives most emphasis to ratio and trend analysis in the examination of the statement of


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Question 4.
Which of the following is not a typical analytical review procedure?


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Question 5.
Which of the following is the most reliable analytical procedures approach to verification of the year-end financial statement balances of a wholesale business?


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Question 6.
As a result of analytical procedures, the independent auditor determines that the gross profit percentage has declined from 30% in the preceding year to 20% in the current year. The auditor should


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Question 7.
CICA Handbook Section 5301 "analysis" states that analytical procedures


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Question 8.
Analytical procedures performed in the overall review stage of an audit suggest that several accounts have unexpected relationships. The results of these procedures most likely would indicate that


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Question 9.
An abnormal fluctuation in gross profit might suggest the need for extended audit procedures for sales and inventories. It is most likely to be identified in the planning phase of the audit by the use of


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Question 10.
In designing written audit programs, an auditor should establish specific audit objectives that relate primarily to the


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