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CPA AUD mini exam #18.

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CPA AUD mini exam #18.

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Mini exam covering CPA AUD topics including substantive procedures, analytical procedures, audit sampling, audit evidence, internal controls, and reporting.

"},"excerpt":{"rendered":"

CPA AUD mini exam #18.

"},"featured_media":0,"featured_media_url":"$undefined","acf":{"duree_estimee":15,"niveau_difficulte":"$undefined","categorie":"AUD — Auditing & Attestation Mini Exams","nombre_questions":10,"score_minimum":80,"ordre_questions":"Aleatoire","questions":[{"id":"cmom0jdwj009qjo04dfqil7l6","texte_question":"

Which of the following is a key consideration when selecting audit procedures for a specific assertion?

","type_question":"QCM","explication":"

Audit procedures must provide relevant and reliable evidence. The auditor selects procedures based on their ability to address specific assertions. Personal preference or billing considerations are not appropriate factors. Therefore, relevance and reliability of evidence are key.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"The auditor’s personal preferences","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"The relevance and reliability of audit evidence","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"The client’s desired outcome","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"

The audit firm’s billing structure

","correcte":false,"explication":"","imageUrl":"$undefined"}]},{"id":"cmom0jdwj009vjo044ci0aehl","texte_question":"

An auditor is performing analytical procedures on a company’s financial statements and notes that gross margin has significantly increased compared to prior periods. What should the auditor do next?

","type_question":"QCM","explication":"

Unexpected fluctuations identified through analytical procedures require investigation. The auditor must obtain explanations and corroborate them with evidence. Accepting explanations without verification is not appropriate. Therefore, the auditor should investigate further.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"Conclude that profitability has improved","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"Investigate the cause of the increase","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"Accept management’s explanation without verification","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"

Document the change and proceed

","correcte":false,"explication":"","imageUrl":"$undefined"}]},{"id":"cmom0jdwj00a0jo043jgn8grc","texte_question":"

In substantive testing, which of the following procedures would be most effective for testing the existence assertion for cash?

","type_question":"QCM","explication":"

Existence of cash is best verified through direct confirmation with financial institutions. Confirmations provide external, reliable evidence. Other procedures are less direct. Therefore, confirming bank balances is most effective.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"Reviewing bank reconciliations","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"Confirming bank balances directly with financial institutions","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"Vouching cash receipts to deposit slips","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"

Performing analytical procedures on cash balances

","correcte":false,"explication":"","imageUrl":"$undefined"}]},{"id":"cmom0jdwj00a5jo04mnfb8u4o","texte_question":"

Which of the following is a limitation of audit sampling?

","type_question":"QCM","explication":"

Audit sampling involves examining less than 100% of a population. This introduces sampling risk, meaning the sample may not be representative. Sampling does not eliminate risk. Therefore, sampling introduces sampling risk.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"It cannot be used for substantive testing","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"It increases detection risk to zero","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"It introduces the possibility of sampling risk","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"

It requires testing the entire population

","correcte":false,"explication":"","imageUrl":"$undefined"}]},{"id":"cmom0jdwj00aajo04iu8pcq9d","texte_question":"

An auditor selects a sample of shipping documents and traces them to recorded sales to test completeness. What type of sampling is this?

","type_question":"QCM","explication":"

Attribute sampling is used to test controls or compliance attributes. Tracing documents to recorded entries tests whether procedures are properly applied. This focuses on presence or absence of a characteristic. Therefore, this is attribute sampling.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"Attribute sampling","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"Variables sampling","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"Discovery sampling","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"

Monetary-unit sampling

","correcte":false,"explication":"","imageUrl":"$undefined"}]},{"id":"cmom0jdwk00afjo04nd96uhub","texte_question":"

When performing substantive analytical procedures, the auditor should:

","type_question":"QCM","explication":"

Substantive analytical procedures require developing reliable expectations. Using multiple relevant data sources improves accuracy and reliability. Relying on limited or irrelevant data reduces effectiveness. Therefore, expectations should be developed using various relevant sources.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"Rely exclusively on internal data","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"Develop expectations using a variety of relevant data sources","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"Avoid using prior-year comparisons","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"

Focus only on immaterial accounts

","correcte":false,"explication":"","imageUrl":"$undefined"}]},{"id":"cmom0jdwk00akjo0487jrrtfu","texte_question":"

In audit sampling, tolerable misstatement is best defined as:

","type_question":"QCM","explication":"

Tolerable misstatement represents the maximum error the auditor is willing to accept. It is set during planning and linked to materiality. If exceeded, it may affect the audit opinion. Therefore, it is the maximum acceptable error.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"

The misstatement identified in the sample

","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"The expected error in the population","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"The maximum error acceptable without affecting the auditor’s opinion","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"

The difference between recorded and audited amounts

","correcte":false,"explication":"","imageUrl":"$undefined"}]},{"id":"cmom0jdwk00apjo04acsjwczi","texte_question":"

An auditor is performing substantive testing on a company’s fixed assets. Which procedure would be most effective for testing the valuation assertion?

","type_question":"QCM","explication":"

Valuation testing focuses on accuracy of recorded amounts. Recalculating depreciation ensures asset values are properly stated. Observation tests existence, not valuation. Therefore, recalculating depreciation is most effective.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"Observing the physical existence of assets","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"Confirming asset balances with management","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"Recalculating depreciation expense","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"

Reviewing asset turnover ratios

","correcte":false,"explication":"","imageUrl":"$undefined"}]},{"id":"cmom0jdwk00aujo04mf2zzudc","texte_question":"

Which of the following best describes the difference between detection risk and control risk?

","type_question":"QCM","explication":"

Detection risk relates to audit procedures failing to detect misstatements. Control risk relates to internal controls failing to prevent or detect misstatements. They are separate components of audit risk. Therefore, the distinction is based on procedures versus controls.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"Detection risk relates to internal controls; control risk relates to audit procedures","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"Detection risk is the risk that audit procedures fail to detect misstatements; control risk is the risk that internal controls fail to prevent or detect them","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"

Detection risk is assessed by management; control risk is assessed by the auditor

","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"

Detection risk exists independently of internal controls; control risk does not

","correcte":false,"explication":"","imageUrl":"$undefined"}]},{"id":"cmom0jdwk00azjo04mqf16vql","texte_question":"

An auditor is evaluating the results of audit sampling for a test of controls. The sample deviation rate exceeds the tolerable deviation rate. What should the auditor do?

","type_question":"QCM","explication":"

If deviations exceed tolerable levels, controls cannot be relied upon. The auditor must reassess control risk and adjust procedures. This usually leads to increased substantive testing. Therefore, reassessment is required.

","points":1,"temps_limite":"$undefined","reponses":[{"texte":"Conclude that controls are effective","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"Increase reliance on controls","correcte":false,"explication":"","imageUrl":"$undefined"},{"texte":"Reassess control risk and modify audit procedures","correcte":true,"explication":"","imageUrl":"$undefined"},{"texte":"

Ignore the deviations as sampling anomalies

","correcte":false,"explication":"","imageUrl":"$undefined"}]}]},"categories":["aud-auditing-attestation-mini-exams"],"date":"2026-04-30T21:25:59.428Z","modified":"2026-04-30T21:45:46.531Z"}}]]}]}]]