100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
TEST BANK For Auditing & Assurance Services: A Systematic Approach, 11th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version $16.49   Add to cart

Exam (elaborations)

TEST BANK For Auditing & Assurance Services: A Systematic Approach, 11th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version

 6 views  0 purchase
  • Course
  • Auditing and Assurance Services, 11th Edition
  • Institution
  • Auditing And Assurance Services, 11th Edition

TEST BANK For Auditing & Assurance Services: A Systematic Approach, 11th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version TEST BANK For Auditing & Assurance Services: A Systematic Approach, 11th Edition By William Messier Jr, Steven Glover, Verified Ch...

[Show more]

Preview 4 out of 1415  pages

  • October 1, 2024
  • 1415
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • 9781260687637
  • auditing
  • assurance services
book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:
  • Auditing and Assurance Services, 11th Edition
  • Auditing and Assurance Services, 11th Edition
avatar-seller
Smartdove
Auditing & Assurance Services
Q Q Q




TEST BANK

Auditing & Assurance Services: A Systematic
Approach, 11th Edition Chapters 1 - 21

,Auditing & Assurance Services
Q Q Q




ChapterQ1:QAnQIntroductionQtoQAssuranceQandQFinancialQStatementQAuditing

ChapterQ2:QTheQFinancialQStatementQAuditingQEnvironment

ChapterQ3:QAuditQPlanning,QTypesQofQAuditQTests,QandQMateriality

ChapterQ4:QRiskQAssessment

ChapterQ5:QEvidenceQandQDocumentation

ChapterQ6:QInternalQControlQinQaQFinancialQStatementQAudit

ChapterQ7:QAuditingQInternalQControlQoverQFinancialQReporting

ChapterQ8:QAuditQSampling:QAnQOverviewQandQApplicationQtoQTestsQofQControls

ChapterQ9:QAuditQSampling:QAnQApplicationQtoQSubstantiveQTestsQofQAccountQBalances

ChapterQ10:QAuditingQtheQRevenueQProcess

ChapterQ11:QAuditingQtheQPurchasingQProcess

ChapterQ12:QAuditingQtheQHumanQResourceQManagementQProcess

ChapterQ13:QAuditingQtheQInventoryQManagementQProcess

ChapterQ14:QAuditingQtheQFinancing/InvestingQProcess:QPrepaidQExpenses,QIntangibleQAssets,
QandQProperty,QPlant,QandQEquipment



ChapterQ15:QAuditingQtheQFinancing/InvestingQProcess:QLong-
TermQLiabilities,QStockholders’QEquity,QandQIncomeQStatementQAccounts

ChapterQ16:QAuditingQtheQFinancing/InvestingQProcess:QCashQandQInvestments

ChapterQ17:QCompletingQtheQAuditQEngagement

ChapterQ18:QReportsQonQAuditedQFinancialQStatements

ChapterQ19:QProfessionalQConduct,QIndependence,QandQQualityQManagement

ChapterQ20:QLegalQLiability

ChapterQ21:QAssurance,QAttestation,QandQInternalQAuditingQServices

,Auditing & Assurance Services
Q Q Q




ChapterQ 01Q

AnQ IntroductionQ toQ AssuranceQ andQ FinancialQ StatementQ Auditing


TrueQ /Q FalseQ Questions


1. IndependenceQ standards Q areQ requiredQforQ auditsQ ofQ publicQ companies,Q butQ notQ forQ aud
itsQofQprivateQcompanies.

True False

2. DecisionQ makersQ demandQ reliableQ informationQ thatQ isQ providedQ byQ accountants.

True False

3. InformationQ asymmetry Q seldomQ occurs.

True False

4. ConflictsQ ofQ interestQ oftenQ occurQ betweenQ absenteeQ ownersQ andQ managers.

True False

5. AuditingQ servicesQ andQ attestationQ servicesQ areQ theQ same.

True False

6. AuditingQisQaQtypeQofQattestQservice.

True False

7. TestingQallQtransactionsQthatQoccurredQduringQ theQperiodQisQcostQprohibitive.

True False




MultipleQ ChoiceQ Questions

, Auditing & Assurance Services
Q Q Q




8. WhyQdoQauditorsQgenerallyQuseQaQsamplingQapproachQtoQevidenceQgathering?


A. AuditorsQ areQexpertsQ andQdoQnotQneedQtoQlookQatQmuchQtoQknowQwhetherQtheQfinan
cialQstatementsQareQcorrectQorQnot.
B. AuditorsQ mustQbalanceQtheQcostQofQtheQauditQwithQtheQneedQ
forQprecision.
C. AuditorsQmustQlimitQtheirQexposureQtoQtheirQauditeeQtoQmainta
inQindependence.
D. TheQauditor'sQrelationshipQwithQtheQauditeeQisQgenerallyQadversarial,QsoQtheQauditorQ
willQnotQhaveQaccessQtoQallQofQtheQfinancialQinformationQofQtheQcompany.

9. WhichQ ofQ theQ followingQ statementsQ bestQ describes Q aQ relationshipQ betweenQ sampleQ sizeQ a
ndQotherQelementsQofQauditing?


A. IfQ materialityQ increases,Q soQ willQ th
eQsampleQsize.
B. IfQ theQ desiredQ levelQ ofQ assuranceQ increases,Q sampleQ sizesQ canQ
beQsmaller.
C. IfQmateriality Qdecreases,QsampleQsizeQwillQneedQ
toQincrease.
D. ThereQisQnoQrelationshipQ betweenQsampleQsizeQ andQ materialityQorQtheQdesiredQle
velQofQassurance.

10. WhichQ ofQtheQ followingQ statementsQ aboutQ theQ studyQ ofQ auditingQ isQ NOTQ true?


A. TheQ studyQ ofQ auditingQ canQ beQ valuableQ toQ futureQ accountants Q andQ businessQ decisi
onQmakersQwhetherQorQnotQtheyQplanQtoQbecome Qauditors.
B. TheQ studyQ ofQ auditingQ focusesQ onQ learningQ theQ analyticalQ andQ logicalQ skillsQ necessary
Q toQ
evaluateQtheQrelevanceQandQreliabilityQofQinformation.
C. TheQ studyQ ofQ auditingQ focusesQ onQ learningQ theQ rules,Q techniques,Q andQ computatio
nsQrequiredQtoQanalyzeQfinancialQstatements.
D. TheQ studyQ ofQ auditingQ beginsQ withQtheQ understandingQ ofQ aQ coherentQ logicalQ framewo
rkQandQtechniquesQusefulQforQgatheringQandQanalyzingQevidenceQaboutQothers'Qassert
ions.

11. TheQbasicQpurposeQofQaQfinancialQstatementQauditQisQto


A. Detect
fraud.
Q

B. ExamineQ individualQ transactions Q soQ thatQ theQ auditorQ mayQ certifyQ asQ
toQtheirQvalidity.
C. ProvideQ assuranceQ regardingQ whetherQ theQ auditee'sQ financialQ statementsQ a
reQfairlyQstated.
D. AssureQ theQ consistentQ applicationQ ofQ correctQ accountin
gQprocedures.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Smartdove. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $16.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$16.49
  • (0)
  Add to cart