ACCT 555 555 GRADING SUMMARY MIDTERM PART 2

ACCT 555 555 GRADING SUMMARY MIDTERM PART 2 These are the automatically computed results of your exam. Date Taken: 1/31/2016 Grades for essay questions, and Time Spent: 1 h , 40 min , 36 secs comments from your instructor, are Points Received: 183 / 200 (91.5%) in the "Details" section below. Page: 1 2 Question 1. Question : (TCO A) Match the following definitions to the appropriate terms. Student Answer: : Standards of » 2 : Sufficient understanding of internal 2 control fieldwork : General standards » 1 : Due professional care 1 : Standards of » 3 : Adequacy of informative disclosures 3 reporting Points Received: 5 of 5 Comments: Question 2. Question : (TCO B) The following is a portion of a qualified audit report issued for a private company. To the shareholders of Tamarak Corporation, We have audited the accompanying balance sheet of Tamarak Corporation as of October 31, 2009, and the related statements of income, retained earnings, and cash flows for the past year. These financial statements are the responsibility of the company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material