For Which of the Following Audit Tests Would an Auditor

question 6

Multiple Choice

For which of the following audit tests would an auditor most likely use attributes sampling?

• A)Making an independent estimate of the amount of LIFO inventory.
• B)Examining invoices in support of the valuation of fixed asset additions.
• C)Selecting accounts receivable balances for confirmation.
• D)Inspecting employee time cards for proper approval by supervisors.

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Definitions:

Task Responsibilities

The duties and obligations associated with a specific job or role, often outlined in a job description or assignment.

Work Standards

Established criteria or benchmarks defining the quality, quantity, and efficiency of work expected from employees within an organization.

Trusting Subordinates

The act of relying on the judgement, abilities, and actions of lower-level employees.

Concern For Task

The focus on completing tasks efficiently and effectively, often prioritized in management and leadership.