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6-20 (Audit evidence) The third GAAS of fieldwork requires that the auditor obtain sufficient competent audit evidence to afford a reasonable basis for an opinion regarding the financial statements under audit. In considering what constitutes sufficient competent evidential matter, a distinction should be made between underlying accounting records and other information available to the auditor. Required (a) Discuss the nature of audit evidence to be considered by the auditor in terms of the underlying accounting record, other corroborating information available to the auditor, and the methods by which the auditor tests or gathers competent evidence. (b) State the presumptions that can be made about the validity of audit evidence with respect to (1) other information and (2) underlying accounting records. Download A+ Rated Solution CLICK HERE Password shiv for unlock .doc, .xls, .zip file

1. Of the following, the electrical equipment that usually requires the most power to operate is the  A. range. B. clothes washer. C. water heater. D. central air conditioner. 2. The insulation color of a grounded wire should be A. white. B. green. C. red. D. black. 3. A switch is always installed in a circuit so that it's connected to the  A. ungrounded conductor. B. grounding wire. C. grounded conductor. D. neutral wire. 4. A run of conduit that will carry several conductors is installed inside a wall. The wall is later finished so that the run of conduit is no longer visible. This is an example of a(n) A. device. B. NEC violation. C. load. D. concealed raceway. 5. Since the voltages across each branch circuit in a residence are the same, these circuits are  A. connected in series. B. complex circuit configurations. C. connected in parallel. D. controlled circuit configurations. 6. An electrical device would also fall into the classification of an electric(al) A. fittin

Question 1 Crime is viewed as an offense against the “state” from which perspective? A. Legalistic B. Political C. Psychological D. Sociological Question 2 Which of the following terms describe human activity that may NOT always include criminal activity? A. Criminalization B. Devariance C. Deviance D. Criminological Question 3 Why is the “consensus perspective” not easily applied to the United States criminal justice system? A. Because of the multiple levels (federal, state, local) of government and duplication of statutes at each level B. Because of the cultural diversity of our society and the debates over the various issues and dimensions involved C. Because agreement, even if achieved, has no binding statutory or judicial authority D. Because of the high importance placed on individual ri

The financial reporting to date has been done using absorption costing. That is to say that the manufacturing costs included direct materials, direct labor, variable manufacturing overhead and fixed manufacturing overhead. In this sense the Income Statements have historically reported Gross Margin. Following is a Monthly Income Statement, based on absorption costing, for Performance Drinks: You begin to wonder if there would be any value in repackaging the income statement in a way that would report Contribution Margin as opposed to Gross Margin. You know that in order to report Contribution Margin you will need to understand your costs as variable and fixed. Unfortunately the general ledger does not specifically report costs as variable and fixed. You remember learning that regression analysis can be used to generate data that can be used to create a total cost equation. With the total cost equation we can understand our total cost as the sum of fixed costs and variable costs. After