If you really want to pass the AA Exam Practice exam faster, choosing a professional product is very important. Our AA Exam Practice study materials can be very confident that we are the most professional in the industry's products. We are constantly improving and just want to give you the best AA Exam Practice learning braindumps. It will help us to pass the exam successfully. This is the best shortcut to success. As long as you use AA Exam Practice learning materials and get a AA Exam Practice certificate, you will certainly be appreciated by the leaders.
Certified Public Accountant AA Then, you need to upgrade and develop yourself.
As long as you study with our AA - Audit & Insurance Exam Practice exam questions for 20 to 30 hours, you will pass the exam for sure. Whatever exam you choose to take, Omgzlook training dumps will be very helpful to you. Because all questions in the actual test are included in Omgzlook practice test dumps which provide you with the adequate explanation that let you understand these questions well.
Moreover our AA Exam Practice test guides provide customers with supplement service-mock test, which can totally inspire them to study hard and check for defects during their learning process. Our commitment is not frank, as long as you choose our AA Exam Practice study tool you will truly appreciate the benefits of our products. We want to provide our customers with different versions of AA Exam Practice test guides to suit their needs in order to learn more efficiently.
CPA AA Exam Practice - Then you will be confident in the actual test.
Our AA Exam Practice training quiz will be your best teacher who helps you to find the key and difficulty of the exam, so that you no longer feel confused when review. Our AA Exam Practice study materials will be your best learning partner and will accompany you through every day of the review. Our AA Exam Practice exam quiz will help you to deal with all the difficulties you have encountered in the learning process and make you walk more easily and happily on the road of studying.
Mostly choice is greater than effort. Well-pointed preparation for your test will help you save a lot of time.
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
SAP P_BTPA_2408 - Our study materials will help you get the according certification you want to have. The Cisco 350-201 real questions are written and approved by our It experts, and tested by our senior professionals with many years' experience. In addition, there are many other advantages of our EMC D-UN-OE-23 learning guide. With the help of CheckPoint 156-590 study material, you will master the concepts and techniques that ensure you exam success. VMware 5V0-92.22 - Omgzlook will never disappoint you.
Updated: May 26, 2022