Acct 3222 exam 2 - Study guides, Class notes & Summaries

ACCT 3222 Exam 2 Questions with Correct Answers 2024 What are the 2 categories of assertions? - answer1. Transactions & Events & Related Disclosures [ Income statement] 2. Accouont Balances & Related Disclosures [Balance Sheet] Transactions and events and related disclosures - answerCPA COP Completeness Proper Period Cutoff Accuracy Classification Occurrence Presentation Account Balances and Related Disclosures - answerCARE PC Completeness Accuracy Rights and Oblig Existence Pre...

1. The risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated is referred to as a. Inherent risk b. Audit risk c. Engagement risk d. Detection risk 2. Which of the following relates to the sufficiency of audit evidence? a. The auditor reviewed vendor invoices to support a sample of purchases rather than rely exclusively on the client’s receiving reports. b. When no exceptions were discovered in a preliminary sample, the au...

ACCT 3222 Wiley Exam 2 Questions With 100% Correct Answers 2024

ACCT 3222 Final Exam Study Guide with complete solutions. Revenue ️ inflows of assets from delivery or producing goods or rendering services - realized and earned Realized ️ product/service is exchanged for cash/promise/other asset Earned ️ products have been delivered or services provided Criteria for Revenue ️ - evidence - delivered/rendered - price fixed and determinable - assured collectability Fraud Risk - Revenue ️ - Alter Terms - Channel Stuffing - Related-Parties -...

ACCT 3222-3, Wiley, LSU, Exam 1 with Verified Answers. Audit Services ️ services by an independent CPA that provide financial statement users with (1) an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with an applicable financial reporting framework and (2) an opinion on the effectiveness of ICFR, which enhance the degree of confidence that intended users can place in the financial statements Attestation Services ️ Services p...

ACCT 3222-3, Wiley, LSU, Exam 1 Questions And Answers Audit Services - ANS services by an independent CPA that provide financial statement users with (1) an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with an applicable financial reporting framework and (2) an opinion on the effectiveness of ICFR, which enhance the degree of confidence that intended users can place in the financial statements Attestation Services - ANS Se...

Acct 3222 - Exam 2 Questions with 100% Correct Answers 2024 Ethics - answerSystem or code of conduct that indicate how to interact with others Professionalism - answerconduct, aims, or qualities that characterize a profession or professional person Theories of Ethical Behavior - answer-Utilitarianism -Rights Based -Justice Based Utilitariamism - answerdecision making is a trade-off between benefits and burdens of alt actions and those affected Rights-Based - answerduty to respect other...

Acct 3222 - Exam 2 Questions with 100% Correct Answers 2024 Ethics - answerSystem or code of conduct that indicate how to interact with others Professionalism - answerconduct, aims, or qualities that characterize a profession or professional person Theories of Ethical Behavior - answer-Utilitarianism -Rights Based -Justice Based Utilitariamism - answerdecision making is a trade-off between benefits and burdens of alt actions and those affected Rights-Based - answerduty to respect other...

Acct 3222 - Exam 2 Questions with 100% Correct Answers 2024 Ethics - answerSystem or code of conduct that indicate how to interact with others Professionalism - answerconduct, aims, or qualities that characterize a profession or professional person Theories of Ethical Behavior - answer-Utilitarianism -Rights Based -Justice Based Utilitariamism - answerdecision making is a trade-off between benefits and burdens of alt actions and those affected Rights-Based - answerduty to respect other...