Learning Objective 13-6 1) Which of the following types of procedures will be performed in an audit of internal control over financial reporting? A) Procedures to obtain an understanding of internal control Ratio analysis Yes Yes B) Procedures to obtain an understanding of internal control Ratio analysis No No C) Procedures to obtain an understanding of internal control Ratio analysis Yes No D) Procedures to obtain an understanding of internal control Ratio analysis No Yes 2) What type of test is used to obtain more types of evidence than any other? A) Substantive tests of transactions B) Tests of controls C) Analytical procedures D) Tests of details 3) Which audit tests involve physical examination and confirmation? A) tests of controls B) tests of transactions C) tests of balances D) analytical procedures 4) Which of the following is generally not included in the “evidence mix”? A) Tests of Controls B) Substantive Tests of Transactions C) Risk Assessment Procedures D) Tests of details of balances 5) Which of the following types of evidence is not available when using substantive tests of transactions? A) Documentation B) Confirmation C) Inquiries of the client D) Reperformance 6) Analytical procedures provide fewer types of evidence than any other type of audit test. A) True B) False Learning Objective 13-7 1) Presentation and disclosure related audit objectives would be performed in which phase of the audit process? A) plan and design audit approach B) perform audit tests for controls and transactions C) perform analytical procedures and tests of balances D) complete the audit and issue the audit report 2) Transaction related audit objectives would most likely be performed in which phase of the audit process? A) plan and design audit approach B) perform audit tests for controls and transactions C) perform analytical procedures and tests of balances D) complete the audit and issue the audit report 3) Analytical procedures must be performed in: A) the planning and test of control stages. B) conjunction with tests of transactions and tests of details of balances. C) the planning and completion stages. D) the planning, test of control, and completion stages. 4) Which of the following tests commonly occur together? A) substantive tests of transactions and tests of controls B) substantive tests of transactions and obtaining an understanding of internal controls C) analytical procedures and tests of controls D) tests of controls and tests of details of balances