More importantly, we will promptly update our AA Latest Test Questions Fee quiz torrent based on the progress of the letter and send it to you. 99% of people who use our AA Latest Test Questions Fee quiz guide has passed the exam and successfully obtained their certificates, which undoubtedly show that the passing rate of our AA Latest Test Questions Fee exam question is 99%. So our product is a good choice for you. With the simulation test, all of our customers will get accustomed to the AA Latest Test Questions Fee exam easily, and get rid of bad habits, which may influence your performance in the real AA Latest Test Questions Fee exam. In addition, the mode of AA Latest Test Questions Fee learning guide questions and answers is the most effective for you to remember the key points. Under the help of our AA Latest Test Questions Fee exam questions, the pass rate among our customers has reached as high as 98% to 100%.
Certified Public Accountant AA It is easy to carry.
At the same time, our AA - Audit & Insurance Latest Test Questions Fee learning materials discard the most traditional rote memorization methods and impart the key points of the qualifying exam in a way that best suits the user's learning interests, this is the highest level of experience that our most authoritative think tank brings to our AA - Audit & Insurance Latest Test Questions Fee learning materials users. If you use our study materials, you must walk in front of the reference staff that does not use valid Latest AA Exam Blueprint real exam. And you will get the according Latest AA Exam Blueprint certification more smoothly.
In compliance with syllabus of the exam, our AA Latest Test Questions Fee practice materials are determinant factors giving you assurance of smooth exam. Our AA Latest Test Questions Fee practice materials comprise of a number of academic questions for your practice, which are interlinked and helpful for your exam. So, they are specified as one of the most successful AA Latest Test Questions Fee practice materials in the line.
CPA AA Latest Test Questions Fee - 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 Questions Fee exam, our company made three versions of AA Latest Test Questions Fee 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. In the competitive economy, this company cannot remain in the business for long. But we keep being the leading position in contrast. We are reactive to your concerns and also proactive to new trends happened in this AA Latest Test Questions Fee exam.
If you participate in the IT exam, you should not hesitate to choose Omgzlook's CPA AA Latest Test Questions Fee exam training materials. After you use, you will know that it is really good.
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
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
Amazon CLF-C02 - The world today is in an era dominated by knowledge. If you are still study hard to prepare the CPA EMC D-XTR-OE-A-24 exam, you're wrong. Even if you have no basic knowledge about the relevant knowledge, you still can pass the Juniper JN0-683 exam. Microsoft AZ-305-KR - Do not feel that you have no ability, and don't doubt yourself. With the help of Huawei H19-433_V1.0 guide questions, you can conduct targeted review on the topics which to be tested before the exam, and then you no longer have to worry about the problems that you may encounter a question that you are not familiar with during the exam.
Updated: May 26, 2022