Exit Exam for Accounting and Finance (Part 2)

 

Exit Exam for Accounting and Finance (Part 2)

1.Which of the following is not a type of financial statement audit sampling method? A) Random sampling 

B) Stratified sampling 

C) Judgmental sampling 

D) Convenience sampling 

2.Which of the following is not a type of financial statement audit procedure documentation? 

A) Audit plan 

B) Audit program 

C) Audit report 

D) Audit trail 

3.Which of the following is not a type of financial statement audit standard? 

A) PCAOB 

B) AICPA 

C) ISACA 

D) IIA 

4. Which of the following is not a type of financial statement audit opinion modification? 

A) Scope limitation 

B) Material misstatement 

C) Going concern 

D) Fraud 

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5. Which of the following is not a type of financial statement audit quality control? A) Independence 

B) Competence 

C) Due care 

D) Profitability 

6. Which of the following is not a type of financial statement audit reporting requirement? 

A) Engagement letter 

B) Internal control letter 

C) Management letter 

D) Opinion letter 

7. Which of the following is not a type of financial statement audit review requirement? 

A) Engagement quality review 

B) Peer review 

C) Inspection 

D) Audit committee review

 Also read  Exit Exam for Accounting and Finance  part 1

8. Which of the following is not a type of financial statement audit analytical procedure? 

A) Trend analysis 

B) Ratio analysis 

C) Regression analysis 

D) Sampling analysis 

9.Which of the following is not a type of financial statement audit report content?

 A) Auditor’s responsibility 

B) Basis for opinion 

C) Management’s responsibility 

D) Auditor’s qualifications 

10. Which of the following is not a type of financial statement fraud risk factor? 

A) Management override 

B) Complex transactions 

C) Inadequate disclosure 

D) Ethical culture 

11. Which of the following is not a type of financial statement audit fraud risk assessment? 

A) Risk assessment 

B) Fraud brainstorming 

C) Fraud triangle analysis 

D) Fraud detection 

12. Which of the following is not a type of financial statement audit fraud detection method? 

A) Data analytics 

B) Whistleblowing 

C) Forensic accounting 

D) Sampling 

13. Which of the following is not a type of financial statement audit sampling risk?

 A) Sampling error 

B) Nonsampling error 

C) Nonresponse error 

D) Sampling frame error 

14. Which of the following is not a type of financial statement audit materiality threshold? 

A) Performance materiality 

B) Planning materiality 

C) Detection materiality 

D) Tolerance materiality 

15. Which of the following is not a type of financial statement audit procedure risk? A) Detection risk 

B) Control risk 

C) Inherent risk 

D) Sampling risk 

16. Which of the following is not a type of financial statement audit evidence reliability? 

A) Relevance 

B) Sufficiency 

C) Competence 

D) Objectivity 

17. Which of the following is not a type of financial statement audit documentation requirement? 

A) Audit trail 

B) Audit program 

C) Audit report 

D) Audit evidence 

18. Which of the following is not a type of financial statement audit evidence source? A) Physical observation 

B) Inquiry 

C) Documentation 

D) Opinion 

19. Which of the following is not a type of financial statement audit evidence documentation? 

A) Workpapers 

B) Audit report 

C) Financial statements 

D) Audit program 

20. Which of the following is not a type of financial statement audit evidence corroboration? 

A) Confirmation 

B) Reconciliation 

C) Analytical procedures 

D) Recalculation 

21. Which of the following is not a type of financial statement audit evidence testing? A) Substantive testing 

B) Test of controls 

C) Compliance testing 

D) Judgmental testing 

22. Which of the following is not a type of financial statement audit evidence evaluation? 

A) Completeness 

B) Accuracy 

C) Sufficiency 

D) Independence 

23. Which of the following is not a type of financial statement audit evidence documentation requirement? 

A) Audit trail 

B) Audit program

 C) Audit report 

D) Audit evidence 

24. Which of the following is not a type of financial statement audit evidence source? 

A) Physical observation 

B) Inquiry 

C) Documentation 

D) Opinion 

25. Which of the following is not a type of financial statement audit evidence corroboration? 

A) Confirmation 

B) Reconciliation 

C) Analytical procedures 

D) Recalculation 

26. Which of the following is not a type of financial statement audit evidence testing? A) Substantive testing 

B) Test of controls 

C) Compliance testing 

D) Judgmental testing 

27. Which of the following is not a type of financial statement audit evidence evaluation? 

A) Completeness 

B) Accuracy 

C) Sufficiency 

D) Independence 

28. Which of the following is not a type of financial statement audit evidence reliability factor? 

A) Source B) Nature C) Timing D) Purpose 

29. Which of the following is not a type of financial statement audit evidence documentation requirement? 

A) Audit trail 

B) Audit program 

C) Audit report 

D) Audit evidence 

30. Which of the following is not a type of financial statement audit evidence source? A) Physical observation 

B) Inquiry 

C) Documentation 

D) Opinion 

31. Which of the following is not a type of financial statement audit evidence corroboration? 

A) Confirmation 

B) Reconciliation 

C) Analytical procedures 

D) Recalculation 

32. Which of the following is not a type of financial statement audit evidence testing? A) Substantive testing 

B) Test of controls 

C) Compliance testing 

D) Judgmental testing 

33. Which of the following is not a type of financial statement audit evidence evaluation? 

A) Completeness 

B) Accuracy 

C) Sufficiency 

D) Independence 

34. Which of the following is not a type of financial statement audit evidence documentation requirement? 

A) Audit trail 

B) Audit program 

C) Audit report 

D) Audit evidence 

35. Which of the following is not a type of financial statement audit evidence source? A) Physical observation 

B) Inquiry 

C) Documentation 

D) Opinion 

36. Which of the following is not a type of financial statement audit evidence corroboration? 

A) Confirmation 

B) Reconciliation 

C) Analytical procedures 

D) Recalculation 

37. Which of the following is not a type of financial statement audit evidence testing? A) Substantive testing 

B) Test of controls 

C) Compliance testing 

D) Judgmental testing