When there are numerous accounts and papers and these cannot be examined without much waste of time, may secondary evidence or the summary of those papers be resorted to?Group of answer choicesNoYes

If the amount of materiality decreases, the amount of audit evidence will increase.Group of answer choicesTrueFalse

Which of the following items may not affect the accounts receivable account?Group of answer choicesDishonored notesSettlement of accounts with promissory noteAccounts written off as worthlessRecovery of accounts of previously written off

When the original document is under the control of another party and the latter does not produce it after a reasonable notice, may secondary evidence be resorted to?Group of answer choicesNoYes

What are the common pitfalls in assembling evidence?Group of answer choicesDefining the solutionStarting earlyHaving a planFailing to see the obvious flaws

Which of the following is not an inherent limitation of an audit? Group of answer choicesaudit testing of selective samplesforming professional judgements in highly specialised areasauditor independencetime lapse between the balance date and the presentation of the audit report