[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[Anonymous]

Yep, it was C and A.

[Anonymous]

@LilEngineThatCan What review materials are you using?

[Anonymous]

Which of the following statements is most accurate regarding sufficient and appropriate documentation?

Select an answer:

A.

Accounting estimates are not considered sufficient and appropriate documentation.

B.

Sufficient and appropriate documentation should include evidence that the audit working papers have been reviewed.

C.

If additional evidence is required to document significant findings or issues, the original evidence is not considered sufficient and appropriate, and therefore should be deleted from the working papers.

D.

Audit documentation is the property of the client, and sufficient and appropriate copies should be retained by the auditor for at least five years.

[Anonymous]

D?

[Anonymous]

When audited financial statements are presented in a document containing other information, the auditor

A. Should express a qualified opinion if the other information is materially inconsistent with the statements.

B. Should be aware of whether the other information contains a material misstatement of fact.

C. Has no responsibility for the other information because it is not part of the basic financial statements.

D. Has an obligation to perform auditing procedures to corroborate the other information.

[Anonymous]

The answer was B.

Which of the following is a control activity that most likely could help prevent employee payroll fraud?

Select an answer:

A.

The personnel department promptly sends employee termination notices to the payroll supervisor.

B.

Employees who distribute payroll checks forward unclaimed payroll checks to the absent employees' supervisors.

C.

Salary rates resulting from new hires are approved by the payroll supervisor.

D.

Total hours used for determination of gross pay are calculated by the payroll supervisor.

[Anonymous]

D?

[LilEngineThatCan]

@cpaby2015, Started with Becker but ditched it because I felt like I was at a stand still. Purchased NINJA MCQ about a week ago and I feel like its made such a difference

[Anonymous]

I also answered D but the answer to my question was B.

On your question, B & C are wrong. D & A seem correct. D, I'm not sure if it's the payroll supervisor or the employee supervisor who should calculate total hours. I have nothing against A, so I'll pick A.

[Anonymous]

@LilEngine I see. I thought you're using Gleim because at one point it mentioned about the book called Little Engine That Can. 🙂 I can tell that you are doing great on your review.

[LilEngineThatCan]

@cpaby2015 … D

@CPAhopeful …A

[LilEngineThatCan]

@CPAby2015 hahaha no way! no im just trying to push thru this thing!!! My REG expires at the end of feb. I cant do this anymoreeeeeee

[Future Ninja]

@cpahopefull – is it A?

Which of the following is a control activity that most likely could help prevent employee payroll fraud?

Select an answer:

A.

The personnel department promptly sends employee termination notices to the payroll supervisor.

B.

Employees who distribute payroll checks forward unclaimed payroll checks to the absent employees' supervisors.

C.

Salary rates resulting from new hires are approved by the payroll supervisor.

D.

Total hours used for determination of gross pay are calculated by the payroll supervisor.

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Anonymous]

The answer was A.

[Future Ninja]

@cpahopeful – good to know. who should approve the salary rate of the employee?

AUD - 79 (expired) retaking July 28,2016
FAR - 76 expiring July 31, 2016
BEC - 85
REG - 74,74,74,74,59,70,

[Author]

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