Essay about Audit

2569 Words Nov 29th, 2015 11 Pages
Auditing
Chapters 6 & 7 Exam
J. Martin, Instructor
Auditing
Chapters 6 & 7 Exam
J. Martin, Instructor

Student Name____Cory Anderson_________________________________________________________ 1 C | 16 A | 31 D | 46 True | 2 B | 17 A | 32 D | 47 False | 3 B | 18 B | 33 A | 48 False | 4 C | 19 C | 34 B | 49 True | 5B | 20 D | 35 D | 50 False | 6 A | 21 D | 36 C | | 7 A | 22 A | 37 B | | 8 D | 23 D | 38 A | | 9 D | 24 B | 39 C | | 10 B | 25 D | 40 C | | 11 D | 26 A | 41 G | | 12 B | 27 A | 42 B | | 13 B | 28 A | 43A | | 14 B | 29 B | 44 D | | 15 C | 30 B | 45 F | |

Multiple Choice Questions 1. | When an employee embezzles company funds from an electric utility company for the
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| C. | Measuring the time lag between the date of recording cash receipts in the books to the date of the deposit credit in the bank. | D. | Conducting interviews with the client's sales billing personnel to learn about sales recording control activities. | | |

5. | If an employee altered the amount of a check after it has cleared the bank, the change can be detected by A. | Comparing the amount written on the check face to the amount written in the cash disbursements journal. | B. | Comparing the magnetic imprint of the amount paid to the amount written on the check face. | C. | Examining the endorsement on the back of the check. | D. | Comparing the check number on the face of the check to the check number in the cash disbursements journal. | | |

6. | Which of the following would be consistent with an employee taking cash receipts from customers on account? A. | The total of the accounts receivable subsidiary ledger balances is less than the accounts receivable control account. | B. | The total of the accounts receivable subsidiary ledger balances is more than the accounts receivable control account. | C. | Total cash receipts from customers for the month are less than credit sales for the month. | D. | Total cash receipts from customers for the month are more than credit sales for the month. | | |

7. | An audit plan of

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