If you are forced to pass exams and obtain certification by your manger, our AA Valid Test Questions Explanations original questions will be a good choice for you. Our products can help you clear exams at first shot. We promise that we provide you with best quality AA Valid Test Questions Explanations original questions and competitive prices. We can guarantee that you will love learning our AA Valid Test Questions Explanations preparation engine as long as you have a try on it. And you can free download the demos of our AA Valid Test Questions Explanations learning guide on our website, it is easy, fast and convenient. The exam simulation will mark your mistakes and help you play well in AA Valid Test Questions Explanations practice test.
Certified Public Accountant AA We provide tracking services to all customers.
Our AA - Audit & Insurance Valid Test Questions Explanations practice dumps enjoy popularity throughout the world. We Omgzlook CPA Standard AA Answers exam training materials in full possession of the ability to help you through the certification. Omgzlook website training materials are proved by many candidates, and has been far ahead in the international arena.
Our AA Valid Test Questions Explanations free demo provides you with the free renewal in one year so that you can keep track of the latest points happening. As the questions of exams of our AA Valid Test Questions Explanations exam dumps are more or less involved with heated issues and customers who prepare for the exams must haven’t enough time to keep trace of exams all day long, our AA Valid Test Questions Explanations practice engine can serve as a conducive tool for you make up for those hot points you have ignored. You will be completed ready for your AA Valid Test Questions Explanations exam.
CPA AA Valid Test Questions Explanations - We can help you to achieve your goals.
With the help of our AA Valid Test Questions Explanations practice materials, you can successfully pass the actual exam with might redoubled. Our company owns the most popular reputation in this field by providing not only the best ever AA Valid Test Questions Explanations study guide but also the most efficient customers’ servers. We can lead you the best and the fastest way to reach for the certification of AA Valid Test Questions Explanations exam dumps and achieve your desired higher salary by getting a more important position in the company.
Omgzlook CPA AA Valid Test Questions Explanations exam training materials is the best training materials. If you're also have an IT dream.
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
Compared with products from other companies, our The Open Group OGEA-101 practice materials are responsible in every aspect. When you suspect your level of knowledge, and cramming before the exam, do you think of how to pass the CPA Oracle 1z0-1084-24 exam with confidence? Do not worry, Omgzlook is the only provider of training materials that can help you to pass the exam. Our Microsoft DP-300-KR practice guide well received by the general public for immediately after you have made a purchase for our Microsoft DP-300-KR exam prep, you can download our Microsoft DP-300-KR study materials to make preparations for the exams. Cisco 200-301 - The SOFT version simulates the real exam which will give you more realistic feeling. That is to say, there is absolutely no mistake in choosing our Huawei H12-621_V1.0 test guide to prepare your exam, you will pass your exam in first try and achieve your dream soon.
Updated: May 26, 2022