You will soon get your learning report without delay. Not only can you review what you have done yesterday on the online engine of the AA Questions study materials, but also can find your wrong answers and mark them clearly. So your error can be corrected quickly. We hope to grow with you and help you get more success in your life. The optimization of AA Questions training questions is very much in need of your opinion. We have free demos of the AA Questions exam questions to download.
Certified Public Accountant AA We're definitely not exaggerating.
AA - Audit & Insurance Questions exam prep sincerely hopes that you can achieve your goals and realize your dreams. The one who choose our study materials that consider our website as the top preparation material seller for Relevant AA Exam Dumps study materials, and inevitable to carry all candidates the finest knowledge on exam syllabus contents. Not only that, we will provide you a free update service within one year from the date of purchase, in order to keep up the changes in the exam so that every candidates who purchase our{ ExamCode} study materials can pass the exam one time.
The existence of our AA Questions learning guide is regarded as in favor of your efficiency of passing the exam. Our AA Questions exam questions are supposed to help you pass the exam smoothly. Don't worry about channels to the best AA Questions study materials so many exam candidates admire our generosity of offering help for them.
CPA AA Questions - Now IT industry is more and more competitive.
AA Questions study materials can expedite your review process, inculcate your knowledge of the exam and last but not the least, speed up your pace of review dramatically. The finicky points can be solved effectively by using our AA Questions exam questions. With a high pass rate as 98% to 100% in this career, we have been the leader in this market and helped tens of thousands of our loyal customers pass the exams successfully. Just come to buy our AA Questions learning guide and you will love it.
If you have decided to upgrade yourself by passing CPA certification AA Questions exam, then choosing Omgzlook is not wrong. Our Omgzlook promise you that you can pass your first time to participate in the CPA certification AA Questions exam and get CPA AA Questions certification to enhance and change yourself.
AA PDF DEMO:
QUESTION NO: 1
An auditor performs an analytical review by comparing the gross margins of various divisional operations with those of other divisions and with the individual division's performance in previous years. The auditor notes a significant increase in the gross margin at one division. The auditor does the preliminary investigation and notes that there were no changes in products, production methods, or divisional management during the year.
Based on the above information, the most likely cause of the increase in gross margin would be
A. An increase in the number of competitors selling similar products.
B. A decrease in the number of suppliers of the material used in manufacturing the product.
C. An overstatement of year-end inventory.
D. An understatement of year-end accounts receivable.
Answer: C
QUESTION NO: 2
John has been given the following draft figures for Kulran Ltd for the year ended 30 June 2011 to analyse. Materiality has been set at $35,000 and the finance director has told John in a planning meeting that there have been few changes in the year. Budgets were set at 2010 levels and there have been no major movements in non-current assets.
20112010
$$
Revenue3,497,2843,487,286
Cost of sales1,867,2942,008,967
Salaries467,900420,975
Which of the following is normally designed to detect possible material monetary errors in the above figures of financial statements?
A. Test of control
B. Walk-through test
C. Analytical procedure
D. Observation of a procedure
Answer: C
QUESTION NO: 3
Internal auditors must exercise due care if they are to meet their responsibilities for fraud detection. Thus, the existence of certain conditions should raise auditor's professional scepticism concerning possible fraud. Which of the following is most likely to be considered as an indication of possible fraud?
A. A new management team installed as the result of a takeover.
B. Rapid turnover of financial executives.
C. Rapid expansion into new markets.
D. Tax authorities' audit of tax returns.
Answer: B
QUESTION NO: 4
When questions arise on the appropriateness of the going concern assumption made by management and the existence of material misstatements which was not adequately disclosed in the financial statements would lead to auditor's-
A. Qualified opinion
B. Unmodified opinion
C. Disclaimer of opinion
D. Unmodified opinion (but have to include an emphasis of matter paragraph in the auditor's report)
Answer: A
QUESTION NO: 5
The internal auditing department has been assigned to perform an audit of a division. Based on background review, the auditor knows the following about management policies:
Company policy is to rapidly promote divisional managers who show significant success. Thus, successful managers rarely stay at a division for more than three years.
A significant portion of division management's compensation comes in the form of bonuses based on the division's profitability.
The division was identified by senior management as a turnaround opportunity. The division is growing, but is not scheduled for a full audit by the external auditors this year. The division has been growing about 7% per year for the past three years and uses a standard cost system.
During the preliminary review, the auditor notes the following changes in financial data compared to the prior year:
Sales have increased by 10%.
Cost of goods sold has increased by 2%.
Inventory has increased by 15%.
Divisional net income has increased by 8%.
Assume the auditor found that there was a plan to overstate inventory and therefore increase reported profits for the division. If reported correctly, the division would not have shown an increase in net income. The auditor has substantial evidence that the divisional manager was aware of and approved the plan to overstate inventory. There is also some evidence that the manager may have been responsible for the implementation of the plan.
The appropriate audit action would be to
A. Continue to conduct interviews with subordinates until a clear-cut case is made and then report the case to the audit committee.
B. Inform management and the audit committee of the findings and discuss proper follow-up action and/or further investigation with them.
C. Inform the divisional manager of the audit suspicions and obtain the manager's explanation of the findings before pursuing the matter further.
D. Document the case thoroughly and report the suspicions to the external auditor for further review and external reporting.
Answer: B
Microsoft PL-100 - So accordingly, we offer three versions of free demos for you to download. They continue to use their IT knowledge and rich experience to study the previous years exams of CPA Microsoft MB-700 and have developed practice questions and answers about CPA Microsoft MB-700 exam certification exam. You can feel assertive about your exam with our 100 guaranteed professional Cisco 350-401 practice engine for you can see the comments on the websites, our high-quality of our Cisco 350-401 learning materials are proved to be the most effective exam tool among the candidates. If you choose to sign up to participate in CPA certification HP HPE2-N71 exams, you should choose a good learning material or training course to prepare for the examination right now. And our Cisco 300-415 test guide benefit exam candidates by improving their ability of coping the exam in two ways, first one is their basic knowledge of it.
Updated: May 26, 2022