Rank the Following Forms of Audit Evidence from Most to Least

question 16

Multiple Choice

Rank the following forms of audit evidence from most to least reliable: observation,inquiry,confirmation,and external-internal documentation

• A)External-internal documentation,observation,confirmation,and inquiry.
• B)Confirmation,external-internal documentation,observation,and inquiry.
• C)External-internal documentation,confirmation,inquiry,and observation.
• D)Confirmation,internal-external documentation,inquiry,and observation.

Establish the unadjusted and adjusted cost of goods sold.

Understand and calculate the total manufacturing cost for the month as shown on the Schedule of Cost of Goods Manufactured.

Analyze the ending balance in the work in process and raw materials accounts.

Determine the total amount of manufacturing overhead actually incurred.

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Definitions:

Relational Focus

The emphasis on building and maintaining positive relationships within a team or organization as a key component of success.

Egalitarian

A principle or practice that promotes equality among people, dismissing differences in status, wealth, or power.

Hierarchical

Describes a system or organization where entities are ranked one above the other according to status or authority.

Cultural Values

these are the core principles and ideals upon which an entire community exists, influencing behavior, perceptions, and laws within that society.