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21.The use of an audit engagement letter is the best method of assuring the auditor will have which of the following? a) Auditor will obtain sufficient appropriate audit evidence. b) Management representation letter c) Access to all books, accounts and vouchers required for audit purpose d) Cooperation from other auditors MCQ'S QUESTION BANK IN AUDITING/B14________________________3 MASTER MINDS - QUALITY EDUCATION BEYOND YOUR IMAGINATION 22.The use of an audit engagement letter is the best method of documenting i) the required communication of significant deficiencies in internal control ii) significantly higher control risk than that assessed in prior audit. iii) Objective and scope of auditor's work iv) Notification of any changes in the original arrangements of the audit. a) (i) and (ii) b) (i) and (iii) c) ii and (iv) d) (iii and (iv) 23.An auditor who accepts an audit but does not possess the industry expertise of the business entity should a) engage experts b) obtain knowledge of matters that relate to the nature of entity's business c) inform management about it d) take help of other auditors 24.The least important element in the evaluation of an audit firm's system of quality control would relate to a) assignment of audit assistants b) system of determining audit fees c) consultation with experts d) confidentiality of client's information 25.The primary purpose of establishing quality control policies and procedures for deciding on client evaluation is to a) ensure adherence to generally accepted auditing standards b) acceptance or retention of clients whose management does not lack integrity c) ensure audit fees is charged according to the type of audit work assigned d) all of the above 26.Which of the following is not a quality control consideration on accepting a new client? a) Availability of audit assistants with necessary skill and competence. b) Provision of other services to the client which may impair independence c) Predecessor auditor's advice as to whether audit fees were paid promptly d) Review of audit work done by one partner by the other 27.An auditor obtains knowledge about a new client's business and its industry to a) Make constructive suggestions concerning improvements to the client's internal control system. b) Evaluate the appropriateness of audit evidence obtained c) Under stand the events and transactions that may have an effect on client's financial statements. d) All of the above
A researcher would like to perform an experiment in a zero magnetic field, which means that the field of the earth must be cancelled. What current is needed in the solenoid's wires
A small conductive rod of length 1.4 m moves with a constant velocity v=20 m/s in a direction parallel to a long wire carrying a current of 32 A. Calculate the electric potential induced across the rod
A double-slit interference pattern has a fringe (a “fringe” is an interference maximum) spacing of 4.0 mm. How far from the central maximum is the first position at which the intensity is equal to I1, the intensity due to each individual slit? In thi..
A 1.10-mol sample of hydrogen gas is heated at constant pressure from 304 K to 422 K. Calculate the increase in its internal energy
Two point charges are on the y-axis. A 4.50 μC charge is located at y=1.25cm, and a -2.24μC charge is located at y=1.80 cm. Find the total electric potential at (a) the origin and (b) the point having coordinates (1.50cm, 0).
A water pipe decreases in diameter from 16 cm to 8 cm. In the wider section the average velocity is 30.0cm/s. what is the volume rate of flow in the wide section in m cube/s
Displacement is which of the following types of quantities.
The electric motor in a toy train requires a voltage of 3.1V .Find the ratio of turns on the primary coil to turns on the secondary coil in a transformer that will step the 110V household voltage down to 3.1V .
A bale of hay sits on the bed of a trailer. The trailer is starting to accelerate forward, and the bale is slipping toward the back of trailer. What would a force diagram and a free-body diagram look like for the above situation.
The number of electrons in a copper penny is approximately 10*10^23, How large would the force be on an object if it carried this charge and were repelled by an equal charge one meter away?
A cell phone transmits at a frequency of 1.28 108 Hz. What is the wavelength of the electromagnetic wave used by this phone
the temperature in an electric oven is 192 degc. the temperature at the outer surface in the kitchen is 35.1 degc. the
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