ACCT 3222 Test 2 Multiple Choice with Verified Solutions |Latest 2024/2025

ACCT 3222 Test 2 Multiple Choice with Verified Solutions. The three categories of management assertions are: a. journal entries, ledgers, and trial balances b. journal entries, account balances, and financial statements c. transactions, ledgers, and account balances d. classes of transactions, account balances, and presentation and disclosure ️ D The assertion related to recording transactions in the correct accounting period is: a. accuracy b. completeness c. cut-off d. occurrence ️ C A detailed listing of the specific audit procedures to be used to gather evidence for an account is called the: a. permanent file b. audit strategy c. audit program d. accounting records ️ C The quantity of evidence that an auditor will gather. a. varies with audit risk b. is the same for most audits because it has to be appropriate c. depends on the size of the audit team d. is the same for clients in the same industry ️ A Which is generally the most reliable form of evidence? a. internally generated evidence from the client's IT system b. internally generated evidence based on discussions with upper