Which of the Following Questions Would an Auditor Least Likely

question 50

Multiple Choice

Which of the following questions would an auditor least likely include on an internal control questionnaire concerning the initiation and execution of equipment transactions?

• A)Are requests for major repairs approved at a higher level than the department initiating the request?
• B)Are dispositions authorized at a level above the department initiating the disposition?
• C)Are requests for purchases of equipment reviewed for consideration of soliciting competitive bids?
• D)Are procedures in place to monitor and properly restrict access to equipment?

Enhance problem-solving skills through the interpretation of variance analysis results.

Understand how to calculate and interpret labor efficiency variances.

Learn to calculate and analyze variable overhead rate and efficiency variances.

Master the calculation and analysis of materials price variances.

---

Definitions:

Needs' Assessment

An evaluative process aimed at determining the requirements or gaps in resources that must be addressed to improve performance or achieve objectives in a specific context.

Key Informant

A person with specialized knowledge about a particular subject who provides valuable insights or information for research or investigation.

Program Budgets

Financial plans that allocate resources for specific programs or projects, outlining anticipated revenues and expenditures.

Expenditures

The actions of spending funds or the amount of money spent on particular goods, services, or endeavors.