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1. Which of the following is a sampling procedure? Select one: A. Applying advanced data analytics to a population B. Selecting all accounts greater than $10 000 C. Selecting every tenth inventory item for further testing D. Reviewing the minutes of board of directors meeting

2. Which of the following is appropriate in the selection of a statistical sample?

Select one:

A.

Block selection

B.

Haphazard Selection

C.

Stratified selection

D.

Random selection

3. Projection of sample results is required in evaluation of:

Select one:

A.

non-statistical audit samples only

B.

all audit tests, whether sampling is being performed or not

C.

all statistical samples

D.

all audit samples, both statistical and non-statistical

4. Muir Ltd is required to but does not wish to prepare and issue a statement of cash flows as part of its financial report. In these circumstances, the auditor's report should include:

Select one:

A.

an adverse opinion stating that the financial report, taken as whole, is not fairly presented because of the omission of the required statement

B.

a disclaimer of opinion with a separate explanatory paragraph stating why the company declined to present the required statement.

C.

an unmodified opinion with a statement of cash flows prepared by the auditor included as part of the auditor's report.

D.

an unmodified opinion with an Emphasis of Matter paragraph explaining that the company declined to present the required statement

5. Which of the following auditing procedures is ordinarily performed last?

Select one:

A.

Obtaining a management representation letter

B.

Testing the purchasing function

C.

Confirming accounts payable

D.

Reading the minutes of the directors meetings.

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