All the preparation material reflects latest updates in AA Simulator Online certification exam pattern. You may now download the AA Simulator Online PDF documents in your smart devices and lug it along with you. You can effortlessly yield the printouts of AA Simulator Online exam study material as well, PDF files make it extremely simple for you to switch to any topics with a click. The trick to the success is simply to be organized, efficient, and to stay positive about it. If you are remain an optimistic mind all the time when you are preparing for the AA Simulator Online exam, we deeply believe that it will be very easy for you to successfully pass the exam, and get the related certification in the near future. This innovative facility provides you a number of practice questions and answers and highlights the weak points in your learning.
Certified Public Accountant AA We can provide you with a free trial version.
Unlike other kinds of exam files which take several days to wait for delivery from the date of making a purchase, our AA - Audit & Insurance Simulator Online study materials can offer you immediate delivery after you have paid for them. Finally, you will pass the exam and get a CPA certification. Using our products does not take you too much time but you can get a very high rate of return.
AA Simulator Online practice dumps offers you more than 99% pass guarantee, which means that if you study our AA Simulator Online learning guide by heart and take our suggestion into consideration, you will absolutely get the certificate and achieve your goal. Meanwhile, if you want to keep studying this course , you can still enjoy the well-rounded services by AA Simulator Online test prep, our after-sale services can update your existing AA Simulator Online study quiz within a year and a discount more than one year.
CPA AA Simulator Online - This is a practice test website.
If you require any further information about either our AA Simulator Online preparation exam or our corporation, please do not hesitate to let us know. High quality AA Simulator Online practice materials leave a good impression on the exam candidates and bring more business opportunities in the future. And many of our cutomers use our AA Simulator Online exam questions as their exam assistant and establish a long cooperation with us.
Omgzlook site has a long history of providing CPA AA Simulator Online exam certification training materials. It has been a long time in certified IT industry with well-known position and visibility.
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
Provided that you lose your exam with our Splunk SPLK-5002 exam questions unfortunately, you can have full refund or switch other version for free. ISTQB CT-AI - According to the needs of the candidate, they consider the issue from all angles, and manufacturing applicability exam training materials. Our VMware 6V0-31.24 study guide may not be as famous as other brands for the time being, but we can assure you that we won't lose out on quality. EMC D-PSC-MN-01 - At the same time, we also constantly upgrade our training materials. To address this issue, our SAP C-S4TM-2023 actual exam offers three different versions for users to choose from.
Updated: May 26, 2022