The AA Questions Pdf question dumps produced by our company, is helpful for our customers to pass their exams and get the AA Questions Pdf certification within several days. Our AA Questions Pdf exam questions are your best choice. The development of science and technology makes our life more comfortable and convenient, which also brings us more challenges. Our AA Questions Pdf exam questions have been widely acclaimed among our customers, and the good reputation in industry prove that choosing our study materials would be the best way for you, and help you gain the AA Questions Pdf certification successfully. With about ten years’ research and development we still keep updating our AA Questions Pdf prep guide, in order to grasp knowledge points in accordance with the exam, thus your study process would targeted and efficient. Our AA Questions Pdf learning questions engage our working staff in understanding customers’ diverse and evolving expectations and incorporate that understanding into our strategies, thus you can 100% trust our AA Questions Pdf exam engine.
Certified Public Accountant AA So people are different from the past.
Our service staff will help you solve the problem about the AA - Audit & Insurance Questions Pdf training materials with the most professional knowledge and enthusiasm. Our AA Exam Price study materials are available for downloading without any other disturbing requirements as long as you have paid successfully, which is increasingly important to an examinee as he or she has limited time for personal study. Therefore, our AA Exam Price study materials are attributive to high-efficient learning.
Our AA Questions Pdf exam quiz is so popular not only for the high quality, but also for the high efficiency services provided which owns to the efforts of all our staffs. First of all, if you are not sure about the AA Questions Pdf exam, the online service will find the most accurate and all-sided information for you, so that you can know what is going on about all about the exam and make your decision to buy AA Questions Pdf study guide or not.
Omgzlook CPA CPA AA Questions Pdf exam information is proven.
Our three versions of AA Questions Pdf exam braindumps are the PDF, Software and APP online and they are all in good quality. All popular official tests have been included in our AA Questions Pdf study materials. So you can have wide choices. In fact, all of the three versions of the AA Questions Pdf practice prep are outstanding. You will enjoy different learning interests under the guidance of the three versions of AA Questions Pdf training guide.
Omgzlook CPA AA Questions Pdf exam training materials can help you to come true your dreams. Because it contains all the questions of CPA AA Questions Pdf examination.
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
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: 3
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: 4
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
QUESTION NO: 5
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
In addition, if you decide to buy Microsoft DP-300 exam materials from our company, we can make sure that your benefits will far exceed the costs of you. CFA Institute ESG-Investing - Don't you feel a lot of pressure? No matter how high your qualifications, it does not mean your strength forever. Next, through my introduction, I hope you can have a deeper understanding of our Microsoft MS-700 learning quiz. Fortinet FCP_FWB_AD-7.4 - The curtain of life stage may be opened at any time, the key is that you are willing to show, or choose to avoid. You can use ISACA COBIT-Design-and-Implementation guide materials through a variety of electronic devices.
Updated: May 26, 2022