answer for question 1---5

Q1 Which of the following statements about internal controls are

A. If test of internal controls show that they are working, then the auditor does not need to perform substantive testing in that area. B If your evaluation of internal controls indicates that they are of high quality, you do not need to perform tests of controls. C Internal control weaknesses cause direct errors in the financial statements D. Internal controls are designed to prevent, detect and correct errors caused by the client's business processes. Q2 When the auditor is assessing the Information System element of internal control, which of the following does not need to be examined? A When the information system captures events / conditions other than classes of transactions B The procedures by which transactions are initiated, recorded, processed, and reported in the financial report C. The entity's risk assessment procedures D The financial reporting processes used to prepare the financial report Q3 The relevance of an internal control to the auditor will be affected by which of the following items? A. Whether management has acknowledged its responsibility to maintain an adequate system of internal controls in the engagement letter for the audit. B Inherent limitations in control system design C The significance of the related risk. D The quality of the monitoring of controls at the organization 04 Which account and assertion will be most affected by the internal control that requires all shipments of inventory to new customers to be authorized by the sales manager before they can leave the warehouse? A Accuracy, valuation and allocation of inventory B Existence of inventory C Occurrence of sales D Completeness of inventory Q5 Which account and assertion will be most affected by the control that requires all write-offs of uncollectable debts to be authorized by senior credit manager? A Existence of the provision for doubtful debts b. Accuracy, valuation and allocation of accounts receivable C Accuracy of bad debts