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Question: in the examination of which of the following general ledger...

Question details

In the examination of which of the following general ledger accounts will tests of controls be particularly appropriate?

Select one:

 

Equipment

 

Bank charges

 

Loans payable

 

Sales

 

Which of the following is not an assurance engagement?

Select one:

 

A review of historical financial information

 

An audit of the effectiveness of internal control

 

A consulting engagement to help an organisation meet its tax obligations

 

A performance audit

 

An auditor most likely would make enquiries of production and sales personnel concerning possible obsolete or slow-moving inventory to support management's account balance assertion of

Select one:

 

existence

 

rights and obligations

 

completeness

 

accuracy, valuation and allocation

 

Following is a list of engagements that an assurance provider may undertake:

I) compiling financial reports

II) agreed-upon procedures

III) review of interim financial information

For which of these engagements is assurance not provided?

Select one:

 

I only

 

II only

 

III only

 

I and II only

 

Mango Ltd.’s directors voted immediately after the year-end of 30 June 2020 to triple its advertising budget for the coming year and authorised a change in advertising agencies. What is the effect of this event on the 30 June 2020 financial report?

Select one:

 

Disclosure by means of supplemental, pro-forma financial information

 

Disclosure in a footnote to the financial report.

 

No disclosure or adjustment necessary

 

Adjustment of the financial report

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