Class discussion questions_13 May 2024
Authored by Marina Kirstein
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University
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7 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
Why is the existence assertion addressed?
Evaluate responses using AI:
OFF
2.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
Amacars Ltd
Which assertions are NOT addressed?
Accuracy
Valuation
Completeness
Classification
Rights
3.
MULTIPLE SELECT QUESTION
3 mins • 1 pt
Bricks for Africa (Pty) Ltd
Substantive tests of detail - selected transactions
Indicate which of the following is a valid substantive procedure to perform
Trace the invoices back to the delivery notes.
Inspect the selected invoices for the invoiced quantity and compare the quantity to the quantity on the delivery not.
Recalculate the calculations on the selected invoices.
Compare the price on the invoices to the corresponding price as per the authorised price list.
Compare the amounts on the invoice to the amounts recorded in the sales journal.
4.
MULTIPLE SELECT QUESTION
2 mins • 1 pt
Bricks for Africa (Pty) Ltd
The following assertions cannot be tested by using only the selected invoices
Occurrence
Completeness
Cut-off
Classification
Presentation
5.
FILL IN THE BLANK QUESTION
3 mins • 1 pt
Bricks for Africa (Pty) Ltd
Debtors responses
Supa Stones CC
Possible reason for the difference?
6.
FILL IN THE BLANK QUESTION
3 mins • 1 pt
Bricks for Africa (Pty) Ltd
Debtors responses
Building Warehouse (Pty) Ltd
Possible reason for the difference?
7.
FILL IN THE BLANK QUESTION
3 mins • 1 pt
Bricks for Africa (Pty) Ltd
Debtors responses
Bricks & Company
Possible reason for the difference?
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