Question 1
Which of the following is
not a correct combination of terms and related type of audit evidence?
◦ inquire - inquiries of client
◦ count - physical examination
◦ recompute - recalculation
◦ read - documentation
Question 2
Which of the following statements is correct regarding the costs involved in obtaining evidence?
◦
Physical examination is usually the least expensive type of audit evidence | Cost of obtaining evidence may be a factor in deciding whether to obtain that evidence |
Yes | Yes |
◦
Physical examination is usually the least expensive type of audit evidence | Cost of obtaining evidence may be a factor in deciding whether to obtain that evidence |
No | No |
◦
Physical examination is usually the least expensive type of audit evidence | Cost of obtaining evidence may be a factor in deciding whether to obtain that evidence |
Yes | No |
◦
Physical examination is usually the least expensive type of audit evidence | Cost of obtaining evidence may be a factor in deciding whether to obtain that evidence |
No | Yes |