ACC/403 ACC403 ACC 403 WEEK 9 QUIZ

A document prepared to initiate shipment of the goods sold by an independent shipper is the:

An effective procedure to test for unbilled shipments is to trace from the:

The document used to indicate to the customer the amount of a sale and payment due date is the:

When assessing risk control, the auditor must do all of the following except:

When an employee who is authorized to make customer entries in the accounts receivable subsidiary ledger, purposefully enters cash received into the wrong customer's account that employee may be suspected of:

A ________ is a document that indicates a request for merchandise by a customer.

In the accounts receivable subsidiary ledger the length of time the account has been due can be useful to the client and the auditor in preparing the:

Credit memos are normally issued to:

Before goods are shipped on account, a properly authorized person must:

Generally, when is the earliest point in the sales and collection cycle in which revenue can be recognized?

________ tests are for omitted transactions, while ________ tests are for nonexistent transactions.

When designing audit procedures, tracing of source documents to the customers subsidiary ledger and subsequently to the general ledger is done to satisfy what assertion?

The ________ is a contract between a carrier (e.g., a trucking company) and the seller of goods that dictates the details surrounding the shipment of goods.

What critical event must take place before goods can be shipped in order to assure payment can be reasonably expected?

The auditor's objectives for the sales and cash collections activities when the client is primarily an e-commerce business as compared to a "bricks and mortar" business are:

The most serious shortcoming of the haphazard sample selection method is:

The sample exception rate equals:

Auditors often use the ________ to determine the estimated population exception rate.

In systematic sample selection, the population size is divided by the number of sample items desired in order to determine the:

Attributes sampling would be an appropriate method to use on which one of the following procedures in an audit program?

The risk which the auditor is willing to take in accepting a control as being effective when the true population exception rate is greater than a tolerable rate is the:

A sample in which every possible combination of items in the population has an equal chance of constituting the sample is a:

Which of the following is the risk that audit tests will not uncover existing exceptions in a sample?

When the auditor goes through a population and selects items using nonprobabilistic selection methods, without regard to their size, source, or other distinguishing characteristics, it is called:

To determine if a sample is truly representative of the population, an auditor would be required to:

In using audit sampling for exception rates:

One of the causes of nonsampling risk is:

The process which requires the calculation of an interval and then selects the items based on the size of the interval is:

When the auditor decides to select less than 100 percent of the population for testing, the auditor is said to use:

When auditors wish to evaluate a sample statistically, an acceptable selection method is: