ACTG 313 CERTIFICATION PAPER 2026
FULL SOLUTION GRADED A+
● The symbol employed to determine if an employee's wages are above
or below the maximum limit for FICA taxes is...
A. Trapezoid (upside down)
B. Rectangle
C. Square
D. Diamond. Answer: Diamond
Answer D is correct. The question implies a decision, for which a
diamond is the flowcharting symbol.
● In connection with the consideration of internal control, an auditor
encounters the following flowcharting symbols:
Trapezoid --> Document
The auditor should conclude that a
,Answers
A.Document has been generated by a computer operation.
B.Master file has been created by a manual operation.
C.Document has been generated by a manual operation.
D.Master file has been created by a computer operation.. Answer: C.
Document has been generated by a manual operation.
Answer C is correct. The symbol on the left represents a manual
operation and the symbol on the right a document. The arrow's direction
suggests that a document is prepared through a manual operation.
● The following are steps in the financial statement audit process:
Prepare flowchart
Gather exhibits of all documents
Interview personnel
The most logical sequence of steps is
Answers
A.I, III, II.
B.II, I, III.
C.III, II, I.
D.I, II, III.. Answer: C. III, II, I.
, Answer C is correct. AU-C 315 and AS 2110 require the auditor to
obtain an understanding of internal control and to document that
understanding. For example, after making inquiries (interviewing client
personnel) as part of performing risk assessment procedures, the auditor
might gather client documents and then prepare a flowchart reflecting
the information obtained about their flow.
● The normal sequence of documents and operations on a well-prepared
systems flowchart is
A.Top to bottom and right to left.
B.Bottom to top and left to right.
C.Top to bottom and left to right.
D.Bottom to top and right to left.. Answer: C.Top to bottom and left to
right.
Answer C is correct. The direction of flow in the normal sequence of
documents and operations on a well-prepared systems flowchart is from
top to bottom and from left to right.
● Which one of the following best reflects the basic elements of a data
flow diagram?
FULL SOLUTION GRADED A+
● The symbol employed to determine if an employee's wages are above
or below the maximum limit for FICA taxes is...
A. Trapezoid (upside down)
B. Rectangle
C. Square
D. Diamond. Answer: Diamond
Answer D is correct. The question implies a decision, for which a
diamond is the flowcharting symbol.
● In connection with the consideration of internal control, an auditor
encounters the following flowcharting symbols:
Trapezoid --> Document
The auditor should conclude that a
,Answers
A.Document has been generated by a computer operation.
B.Master file has been created by a manual operation.
C.Document has been generated by a manual operation.
D.Master file has been created by a computer operation.. Answer: C.
Document has been generated by a manual operation.
Answer C is correct. The symbol on the left represents a manual
operation and the symbol on the right a document. The arrow's direction
suggests that a document is prepared through a manual operation.
● The following are steps in the financial statement audit process:
Prepare flowchart
Gather exhibits of all documents
Interview personnel
The most logical sequence of steps is
Answers
A.I, III, II.
B.II, I, III.
C.III, II, I.
D.I, II, III.. Answer: C. III, II, I.
, Answer C is correct. AU-C 315 and AS 2110 require the auditor to
obtain an understanding of internal control and to document that
understanding. For example, after making inquiries (interviewing client
personnel) as part of performing risk assessment procedures, the auditor
might gather client documents and then prepare a flowchart reflecting
the information obtained about their flow.
● The normal sequence of documents and operations on a well-prepared
systems flowchart is
A.Top to bottom and right to left.
B.Bottom to top and left to right.
C.Top to bottom and left to right.
D.Bottom to top and right to left.. Answer: C.Top to bottom and left to
right.
Answer C is correct. The direction of flow in the normal sequence of
documents and operations on a well-prepared systems flowchart is from
top to bottom and from left to right.
● Which one of the following best reflects the basic elements of a data
flow diagram?
