Are you trying to pass the AA Latest Test Simulations exam to get the longing AA Latest Test Simulations certification? As we know, there are a lot of the advantages of the certification, such as higher salaries, better job positions and so on. Perhaps at this moment, you need the help of our AA Latest Test Simulations study materials. As our company's flagship product, it has successfully helped countless candidates around the world to obtain the coveted AA Latest Test Simulations certification. If you want to buy our AA Latest Test Simulations training engine, you must ensure that you have credit card. We do not support deposit card and debit card to pay for the AA Latest Test Simulations exam questions. But if it is too complex, not only can’t we get good results, but also the burden of students' learning process will increase largely.
Certified Public Accountant AA Omgzlook is a professional website.
Certified Public Accountant AA Latest Test Simulations - Audit & Insurance Do not be bemused about the exam. If you have any questions about the exam, Omgzlook the CPA Reliable AA Practice Questions Ppt will help you to solve them. Within a year, we provide free updates.
Considering many exam candidates are in a state of anguished mood to prepare for the AA Latest Test Simulations exam, our company made three versions of AA Latest Test Simulations real exam materials to offer help. All these variants due to our customer-oriented tenets. As a responsible company over ten years, we are trustworthy.
CPA AA Latest Test Simulations - Our products are just suitable for you.
Omgzlook is a website to provide a targeted training for CPA certification AA Latest Test Simulations exam. Omgzlook is also a website which can not only make your expertise to get promoted, but also help you pass CPA certification AA Latest Test Simulations exam for just one time. The training materials of Omgzlook are developed by many IT experts' continuously using their experience and knowledge to study, and the quality is very good and have very high accuracy. Once you select our Omgzlook, we can not only help you pass CPA certification AA Latest Test Simulations exam and consolidate their IT expertise, but also have a one-year free after-sale Update Service.
You will get your AA Latest Test Simulations certification with little time and energy by the help of out dumps. Omgzlook is constantly updated in accordance with the changing requirements of the CPA certification.
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
Palo Alto Networks PCNSC - If you buy the Omgzlook's products, we will not only spare no effort to help you pass the certification exam, but also provide a free update and upgrade service. As we all know, it is not an easy thing to gain the ACAMS CAMS certification. ISM CORe - After your understanding of our reliability, I believe you will quickly add Omgzlook's products to your cart. It doesn’t matter if it's your first time to attend Cisco 300-710 practice test or if you are freshman in the IT certification test, our latest Cisco 300-710 dumps guide will boost you confidence to face the challenge. About CPA Cisco 300-635 exam, you can find these questions from different web sites or books, but the key is logical and connected.
Updated: May 26, 2022