Exam Details

  • Exam Code
    :CPA-TEST
  • Exam Name
    :Certified Public Accountant Test: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, Regulation
  • Certification
    :AICPA Certifications
  • Vendor
    :AICPA
  • Total Questions
    :1241 Q&As
  • Last Updated
    :Jun 30, 2025

AICPA AICPA Certifications CPA-TEST Questions & Answers

  • Question 851:

    Which of the following questions would most likely be included in an internal control questionnaire concerning the completeness assertion for purchases?

    A. Is an authorized purchase order required before the receiving department can accept a shipment or the vouchers payable department can record a voucher?

    B. Are purchase requisitions prenumbered and independently matched with vendor invoices?

    C. Is the unpaid voucher file periodically reconciled with inventory records by an employee who does not have access to purchase requisitions?

    D. Are purchase orders, receiving reports, and vouchers prenumbered and periodically accounted for?

  • Question 852:

    Mailing disbursement checks and remittance advices should be controlled by the employee who:

    A. Approves the vouchers for payment.

    B. Matches the receiving reports, purchase orders, and vendor's invoices.

    C. Maintains possession of the mechanical check-signing device.

    D. Signs the checks last.

  • Question 853:

    Which of the following controls would be most effective in assuring that recorded purchases are free of material errors?

    A. The receiving department compares the quantity ordered on purchase orders with the quantity received on receiving reports.

    B. Vendor's invoices are compared with purchase orders by an employee who is independent of the receiving department.

    C. Receiving reports require the signature of the individual who authorized the purchase.

    D. Purchase orders, receiving reports, and vendor's invoices are independently matched in preparing vouchers.

  • Question 854:

    Which of the following internal control procedures most likely addresses the completeness assertion for inventory?

    A. Work in process account is periodically reconciled with subsidiary records.

    B. Employees responsible for custody of finished goods do not perform the receiving function.

    C. Receiving reports are prenumbered and periodically reconciled.

    D. There is a separation of duties between payroll department and inventory accounting personnel.

  • Question 855:

    Which of the following control activities is not usually performed in the vouchers payable department?

    A. Determining the mathematical accuracy of the vendor's invoice.

    B. Having an authorized person approve the voucher.

    C. Controlling the mailing of the check and remittance advice.

    D. Matching the receiving report with the purchase order.

  • Question 856:

    To determine whether accounts payable are complete, an auditor performs a test to verify that all merchandise received is recorded. The population of documents for this test consists of all:

    A. Vendor's invoices.

    B. Purchase orders.

    C. Receiving reports.

    D. Canceled checks.

  • Question 857:

    For effective internal control purposes, the vouchers payable department generally should:

    A. Stamp, perforate, or otherwise cancel supporting documentation after payment is mailed.

    B. Ascertain that each requisition is approved as to price, quantity and quality by an authorized employee.

    C. Obliterate the quantity ordered on the receiving department copy of the purchase order.

    D. Establish the agreement of the vendor's invoice with the receiving report and purchase order.

  • Question 858:

    Which of the following is the most effective control activity to detect vouchers that were prepared for the payment of goods that were not received?

    A. Count goods upon receipt in storeroom.

    B. Match purchase order, receiving report, and vendor's invoice for each voucher in accounts payable department.

    C. Compare goods received with goods requisitioned in receiving department.

    D. Verify vouchers for accuracy and approval in internal audit department.

  • Question 859:

    For effective internal accounting control, the accounts payable department should compare the information on each vendor's invoice with the:

    A. Receiving report and the purchase order.

    B. Receiving report and the voucher.

    C. Vendor's packing slip and the purchase order.

    D. Vendor's packing slip and the voucher.

  • Question 860:

    Which of the following procedures would an auditor most likely perform to test controls relating to management's assertion about the completeness of cash receipts for cash sales at a retail outlet?

    A. Observe the consistency of the employees' use of cash registers and tapes.

    B. Inquire about employees' access to recorded but undeposited cash.

    C. Trace the deposits in the cash receipts journal to the cash balance in the general ledger.

    D. Compare the cash balance in the general ledger with the bank confirmation request.

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