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1、财经网络教育领导品牌_高顿网校 All Rights Reserved版权所有 复制必究1AICPA考试AUD每日一练31.Which of the following cash transfers results in a misstatement of cash at December 31,20X7?Bank Transfer ScheduleDisbursement Deposit Recordedrecorded received Paid by receivedin books in books bank by banka 1/1/X8 1/1/X8 12/31/X7 12/31/
2、X7b 1/4/X8 1/7/X8 1/4/X8 1/4/X8c 1/5/X8 12/31/X7 12/31/X7 1/4/X8d 12/31/X7 12/31/X7 12/31/X7 1/4/X8【答案】c【解析】Choice 3 is correct.This transfer results in a misstatement of cash,because the paymentwas not recorded in the period of deposit.Choices 1,2,and 4 are incorrect,because the disbursement and th
3、e deposit were recorded inthe same period in each of these situations.2.A compilation report on the financial statement of a nonissuer includes the followingphrase:”We are not aware of any material modifications that should be made to theaccompanying financial statements in order for them to be in c
4、onformity with generallyaccepted accounting principles.”This is an example of:a.An appropriate form of reporting expressing negative assurance on the financialstatements.b.An appropriate form of reporting expressing positive assurance on the financialstatements.c.An appropriate form of reporting exp
5、ressing limited assurance on the financial statements.d.An inappropriate form of reporting.【答案】d【解析】Choice 4 is correct.The wording shown represents negative(or limited)assurance,whichis inappropriate in a compilation engagement.A compilation report should not include anyassurance at all.Choice 1,2,
6、and 3 are incorrect,based on the above explanation.3.An auditor selects a sample from the files of invoices to determine if shipping documents were财经网络教育领导品牌_高顿网校 All Rights Reserved版权所有 复制必究2prepared.This test is performed to support managements financial statement assertion of:a.Completeness.b.Und
7、erstandability and classification.c.Existence.d.Valuation and allocation.【答案】c【解析】Choice 3 is correct.The auditor is testing for items that were billed,but perhaps notshipped.This test addresses the existence assertion:Did a valid sale(as evidenced by shipment ofgoods)really occur?Choice 1 is incorr
8、ect.In order to test for completeness,the auditor would need to start withshipping documents and trace forward to the invoices.The auditor would be looking for sales(as evidenced by shipment of goods)that were not recorded(i.e.,no invoice)Choice 2 is incorrect.Selecting a sample of invoices and trac
9、ing to the shipping documentsdoes not provide evidence regarding understandability and classification,which relates topresentation,description,and disclosure in the financial statement.Choice 4 is incorrect.Tracing from invoices to shipping documents does not provide evidenceregarding valuation or a
10、llocation.Other documentation,such as the sales order,would alsoneed to be examined to verify valuation.4.The Public Company Accounting Oversight Board consists of:a.All CPAs.b.Up to five CPAs.c.At least one CPA.d.Exactly two CPAs.【答案】d【解析】Choice 4 is correct.The PCAOB consists of exactly two CPAs a
11、nd three non-CPAs.Choice 1,2,and 3 are incorrect,based on the above explanation.5.When an auditor not receive replies to positive requests for year-end accounts receivableconfirmations,the auditor would least likely:a.Send a second positive confirmation request.b.Examine shipping documents and sales
12、 invoices.c.Search for subsequent cash receipts.财经网络教育领导品牌_高顿网校 All Rights Reserved版权所有 复制必究3d.Increase the assessed level of detection risk for the valuation assertion.【答案】d【解析】Choice 4 is correct.The auditor would only increase detection risk in response to a decreasein inherent and/or control ris
13、k,which is not the case here.Additionally,confirmation relatesto the existence assertion,not the valuation assertion.Choice 1 is incorrect.The auditor would be likely to send a second positive confirmationrequest.Choice 2 is incorrect.The auditor might choose to perform alternative procedures to sup
14、portthe receivables balance,including examination of shipping documents and sales invoices.Choice 3 is incorrect.The auditor might choose to perform alternative procedures to supportthe receivables balance,including searching for subsequent cash receipts.参与AICPA的考生可按照复习计划有效进行，另外高顿网校官网考试辅导高清课程已经开通，还可索取证券考试通关宝典，针对性地讲解、训练、答疑、模考，对学习过程进行全程跟踪、分析、指导，可以帮助考生全面提升备考效果。更多详情可登录高顿网校官网进行咨询，也欢迎您关注我们的官方微信（微信号：gaodunaicpa）。