Which of the following audit procedures would an auditor be least likely to perform using a generalized computer audit program?
A. Searching records of accounts receivable balances for credit balances.
B. Investigating inventory balances for possible damaged goods.
C. Selecting accounts receivable for positive and negative confirmations.
D. Listing of unusually large inventory balances.
B. Investigating inventory balances for possible damaged goods.
You might also like to view...
Which of the following statements is true of criminal law?
A. It is concerned with private duties owed by one person to another. B. It refers to the duty of corporations to exercise reasonable care with regard to other corporations. C. It is completely procedural. D. It defines breaches of duty to society at large.
It is common that a multinational company eventually creates ________ or subsidiaries to handle all of its international activity
A) export departments B) international divisions C) geographical organizations D) world product groups E) global organizations
John is a CPA in charge of auditing his client, McMillen & Co John's duty of care to McMillen will most likely be breached if John
a. gives his client an oral report instead of a written report. b. gives his client incorrect advice based on an honest error in judgment. c. fails to give tax advice that would save his client money. d. fails to follow generally accepted auditing standards (GAAS).
Lenning Corporation uses the FIFO method in its process costing. The following data pertain to its Assembly Department for August. Percent Complete UnitsMaterialsConversionWork in process, August 1850?60?%50?%Units started into production during August8800? Units completed during August and transferredto the next department8300? Work in process, August 311350?70?%40?%Required:Compute the equivalent units of production for both materials and conversion costs for the Assembly Department for August using the FIFO method.?MaterialsConversionEquivalent units of production??
What will be an ideal response?