2016年美國CPA練習(xí)題精選：Auditing 5

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Which of the following ratios would an engagement partner most likely consider in the overall review stage of an audit?

a. Cost of goods sold/average inventory.

b. Current assets/quick assets.

c. Accounts receivable/inventory.

d. Total liabilities/net sales.

答案：A

Explanation

Choice "a" is correct. Inventory turnover is a measure of how quickly inventory is sold, which can be used as an indicator of enterprise performance. In general, the higher the turnover, the better the entity's performance.

Choice "d" is incorrect. It does not make sense to divide total liabilities, which is a measure as of a point in time, by net sales, which is a measure that spans a year. This ratio could fluctuate wildly as liabilities are incurred and then paid.

Choice "c" is incorrect. It does not make sense to divide accounts receivable by inventory, since receivables are measured in sales dollars while inventory is measured in terms of cost figures.

Choice "b" is incorrect. Inventory and prepaid assets are included in current assets but not in quick assets, so dividing these two amounts provides some measure of the relative size of inventory and prepaids. It is not a commonly used ratio and would not be considered in the overall review stage of the audit.

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