Question 1
________, generally, provide the most reliable evidence.
◦ Confirmations
◦ Recalculations
◦ Reperformances
◦ Observations
Question 2
"Physical examination" is the inspection or count by the auditor of items such as
◦ cash, inventory, and payroll timecards.
◦ cash, inventory, canceled checks, and sales documents.
◦ cash, inventory, canceled checks, and tangible fixed assets.
◦ cash, inventory, securities, notes receivable, and tangible fixed assets.