EBK AUDITING+ASSURANCE SERVICES
17th Edition
ISBN: 9780135171219
Author: ARENS
Publisher: PEARSON CO
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Textbook Question
Chapter 13, Problem 23.2MCQ
b. Substantive analytical procedures are most likely to be used to test which of the following accounts?
- (1) Interest income
- (2) Accounts payable
- (3) Cash
- (4)
Treasury stock
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Chapter 13 Solutions
EBK AUDITING+ASSURANCE SERVICES
Ch. 13 - Prob. 1RQCh. 13 - Prob. 2RQCh. 13 - Prob. 3RQCh. 13 - Prob. 4RQCh. 13 - Prob. 5RQCh. 13 - Prob. 6RQCh. 13 - Explain how the calculation and comparison to...Ch. 13 - Prob. 8RQCh. 13 - Prob. 9RQCh. 13 - For each of the eight types of evidence discussed...
Ch. 13 - Prob. 11RQCh. 13 - Prob. 12RQCh. 13 - Prob. 13RQCh. 13 - Prob. 14RQCh. 13 - Prob. 15RQCh. 13 - Prob. 16RQCh. 13 - Prob. 17RQCh. 13 - Prob. 18RQCh. 13 - Prob. 19RQCh. 13 - Prob. 20RQCh. 13 - Prob. 21.1MCQCh. 13 - Prob. 21.2MCQCh. 13 - A conceptually logical approach to the auditors...Ch. 13 - Prob. 22.1MCQCh. 13 - Prob. 22.2MCQCh. 13 - Prob. 22.3MCQCh. 13 - Prob. 23.1MCQCh. 13 - b. Substantive analytical procedures are most...Ch. 13 - Prob. 23.3MCQCh. 13 - Prob. 24DQPCh. 13 - Prob. 25DQPCh. 13 - Prob. 26DQPCh. 13 - Prob. 27DQPCh. 13 - Prob. 28DQPCh. 13 - Prob. 29DQPCh. 13 - Prob. 30DQPCh. 13 - Prob. 31DQPCh. 13 - Prob. 32DQPCh. 13 - Prob. 33DQPCh. 13 - Prob. 34DQPCh. 13 - Prob. 35DQP
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- Which one of the following items is not a method/tool of analysis of financial statements a. Trend Analysis b. Statement of Affairs c. Cash Flow Statement d. Comparative Statementsarrow_forwardExplain, using practical example the effect of accruals figures on the preparation of a financial statement?arrow_forwardBriefly describe the types of information concerningfinancial position, income, and cash flows that might beprovided (a) within the main body of the financial statements,(b) in the notes to the financial statements, or (c) assupplementary information.arrow_forward
- Which of the following are techniques, tools or methods of analysis and interpretation of financial statements? Select one: a. Comparative Analysis b. All of the above c. Trend Analysis d. Ratio Analysisarrow_forwardWhat purposes are served by a comparative study of financial statements?arrow_forwardFor each of the following accounts, give key risks, relevant assertions and how to test those assertions. 1. Statement of profit or loss items 2. Non-current assets 3. Inventory 4. Recievables 5. Bank 6. Payables 7. Long-term liabilitiesarrow_forward
- Accounts Receivable will appear on which of the following financial statements?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flowsarrow_forward(a)Explain, using practical example the effect of accruals figures on the preparation of a financial statement. (b)Suggest Four reasons why there might be difference between the balance on the receivable ledger control account and the total list of accounts receivable ledger balances. (c)Explain, using practical example how Capital expenditure should be capitalizedarrow_forwardThe subject matter of an attestation can be one of the following Except a. Financial statements or future projections b. Internal Control c. Risk Assessment d. Bookkeeping or Taxesarrow_forward
- What does the purpose of compare financial statement?arrow_forwardMULTIPLE CHOICE. Choose the best answer among the following choices. 6. The financial statements should be stated in terms of a common financial denominator. A. Accrual B. Going Concern C. Time Period D. Stable Monetary Unit 7. The principle of objectivity includes the concept of A. Summarization B. Verifiability C. Classification D. Conservatism 8. The financial accounting information is directed toward the common needs of users and is independent of presumptions about particular needs and desires of specific users. A. Completeness B. Verifiability C. Relevance D. Neutrality 9. The attribute of relevance include ALL EXCEPT: A. Predictive value B. Feedback value C. Materiality D. Neutrality 10. The assumption that an entity will continue to operate for the foreseeable future is called A. Accrual basis B. Comparability C. Going concern D. Cash basisarrow_forwardDistinguishing between current and non-current items on the balance sheet and presenting a subtotal for current assets and liabilities is referred to as: C . a liquidity-based balance sheetarrow_forward
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