Cmpc 312 - Study guides, Class notes & Summaries

CMPC 312 QUIZ 2 Questions And Complete Answers

CMPC 312 QUIZ 1 QUESTIONS WITH REVISED ANSWERS Measure of the quantity; affected by the auditor's assessment of the risk of material misstatement - Answer-Sufficiency Deal with the logical connection with the purpose of the audit procedure under the assertion under consideration - Answer-Relevance Influenced by the source and nature of the information, including the controls over its preparation and maintenance; information is free from error and bias and faithfully represents what it...

CMPC 312 QUIZ 2 QUESTIONS WITH CORRECT ANSWERS When the auditor discovers material misstatements in the accounting records, the FS must be corrected, but the client must approve them, because management has primary responsibility for the fair presentation statements - Answer-Proposed Adjusting and Reclassifying Entries Working paper to combine similar accounts - Answer-Lead Schedule Largest portion of working papers includes the detailed schedules prepared by auditors in support of spe...

CMPC 312 QUIZ 1 QUESTIONS AND ANSWERS

A. Disagreements which the predecessor had with the client concerning auditing procedures and accounting principles. - correct answer Before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding A. Disagreements which the predecessor had with the client concerning auditing procedures and accounting principles. B. The predecessor's evaluation of matters of continuing accounting significance. C. The degree of cooperation the pr...

A. Disagreements which the predecessor had with the client concerning auditing procedures and accounting principles. - correct answer Before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding A. Disagreements which the predecessor had with the client concerning auditing procedures and accounting principles. B. The predecessor's evaluation of matters of continuing accounting significance. C. The degree of cooperation the pr...

CMPC 312 QUIZ 1 Exam Questions and Answers

CMPC 312 FINALS Exam Questions and Answers.

These are the test of controls in the revenue/sales cycle, except: a) Selling (Authorization) b) Purchasing (Authorization) c) Delivery (Custody) d) Accounting (Recording) e) Collection - correct answer -b) Purchasing (Authorization) These are the test of controls in the purchase/disbursement cycle, except: a) Purchasing (Authorization) b) Receipt of goods (Custody) c) Collection d) Accounting (Recording) e) Disbursement - correct answer -c) Collection designed to ensure safe...

These are the test of controls in the revenue/sales cycle, except: a) Selling (Authorization) b) Purchasing (Authorization) c) Delivery (Custody) d) Accounting (Recording) e) Collection - correct answer -b) Purchasing (Authorization) These are the test of controls in the purchase/disbursement cycle, except: a) Purchasing (Authorization) b) Receipt of goods (Custody) c) Collection d) Accounting (Recording) e) Disbursement - correct answer -c) Collection designed to ensure safe...