Multiple choice 2

When we want to make sure that all the assets that a company shows in its balance sheet really exist, we will.............

• Sign of the audit report

• Examine the internal controls

• Do substantive tests

• Write a management letter

  
  

......gives the clients a summary of all their purchases for the month and the amount owed.

• Statement of account

• Cash receipt

• Credit note 

• Delivery

A goods received note is signed by a/an.............

• Seller

• Supplier

• Buyer

• a,b,c

Cash receipt is signed by ............

• Buyer

• Purchase

• Supplier

•  a,b,c

When we have defined the scope of the audit we will.............

• Examine the accounting system

• Write a management letter

• Sign of the audit report

• Do substantive tests

They will begin the shipment when the products.............ready.

• Are

• have been

• Will be

• Were

.............means to visit the factories and warehouses to physically see items reported in the statements

• Qualified opinion

• unqualified opinion

• Substantive test

• Audit

............. will be issued when auditors point out the things that they could not prove

• Qualified opinion

• Unqualified opinion

• Management letter

• Audit report

They will check the figures recorded in tour financial account ............. the figures in your company’s books or ledgers.

• On

• For

• Against

• With

.............are appointed by the shareholders.

• Accountants

• Auditors

• Bookkeepers

• a,b,c