TEST BANK For Auditing & Assurance
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Services: A Systematic Approach, 12th
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Edition Chapters 1 - 21 Complete
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written by t
nursingpieces
The Marketplace to Buy and Sell your Study Material
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At Stuvia, you will find the best notes, summaries, flashcards & other study material. Search for your school
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TEST BANK For Auditing & Assurance Services: A
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Systematic Approach, 12th Edition
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Chapters 1 - 21 Complet t t t t
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
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Chapter 1: An Introduction to Assurance and Financial Statement Auditing
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Chapter 2: The Financial Statement Auditing Environment
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Chapter 3: Audit Planning, Types of Audit Tests, and Materiality
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Chapter 4: Risk Assessment t
Chapter 5: Evidence and Documentation t t
Chapter 6: Internal Control in a Financial Statement Audit
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Chapter 7: Auditing Internal Control over Financial Reporting
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Chapter 8: Audit Sampling: An Overview and Application to Tests of Controls
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Chapter 9: Audit Sampling: An Application to Substantive Tests of Account
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Balances
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Chapter 10: Auditing the Revenue Process t t t
Chapter 11: Auditing the Purchasing Process t t t
Chapter 12: Auditing the Human Resource Management Process t t t t t
Chapter 13: Auditing the Inventory Management Process t t t t
Chapter 14: Auditing the Financing/Investing Process: Prepaid Expenses, Intangible Assets,
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tand Property, Plant, and Equipment
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Chapter 15: Auditing the Financing/Investing Process: Long-Term Liabilities, Stockholders’
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tEquity, and Income Statement Accounts
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Chapter 16: Auditing the Financing/Investing Process: Cash and Investments
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Chapter 17: Completing the Audit Engagement t t t
Chapter 18: Reports on Audited Financial Statements t t t t
Chapter 19: Professional Conduct, Independence, and Quality t t t t
Management t
Chapter 20: Legal Liability t
Chapter 21: Assurance, Attestation, and Internal Auditing Services t t t t t
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
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Auditing & Assurance Services: A Systematic Approach, 12e
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t(Messier) Chapter 1 An Introduction to Assurance and Financial
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tStatement Auditing t
1) Auditing focuses on rules, techniques, and computations required to prepare
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tand analyze financial information.
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ANSWER: FALSE t t
Difficulty: 1 Easy t t
Topic: The Importance for Studying Auditing t t t t
Learning Objective: 01-01 Understand why studying auditing can be valuable to you
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twhether or not you plan to become an auditor, and why it is different from studying
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taccounting.
Bloom's: Remember t
tAACSB: Communication
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AICPA: BB Legal; FN Decision Making t t t t
2) Decision makers demand reliable information that is provided by accountants.
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ANSWER: TRUE t t
Difficulty: 1 Easy t t
Topic: The Demand for Auditing and Assurance t t t t t
Learning Objective: 01-02 Understand the demand for auditing and be able to explain
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tthe desired characteristics of auditors and audit services through an analogy to a
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thouse inspector and a house inspection service.
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Bloom's: Understand t
tAACSB: Communication
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AICPA: FN Decision Making; BB Industry t t t t
3) Information asymmetry seldom occurs. t t t
ANSWER: FALSE t t
Difficulty: 2 Medium t t
Topic: The Demand for Auditing and Assurance t t t t t
Learning Objective: 01-02 Understand the demand for auditing and be able to explain
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tthe desired characteristics of auditors and audit services through an analogy to a
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thouse inspector and a house inspection service.
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Bloom's: Apply
AACSB: Communication
AICPA: BB Industry; FN Reporting t t t
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Services: A Systematic Approach, 12th
t t t t t
Edition Chapters 1 - 21 Complete
t t t t t t
written by t
nursingpieces
The Marketplace to Buy and Sell your Study Material
t t t t t t t t
At Stuvia, you will find the best notes, summaries, flashcards & other study material. Search for your school
t t t t t t t t t t t t t t t t t
or uni and find the study material you need.
t t t t t t t t t
www.stuvia.com
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
t t t t t t t t t t
TEST BANK For Auditing & Assurance Services: A
t t t t t t t t
Systematic Approach, 12th Edition
t t t t t
Chapters 1 - 21 Complet t t t t
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
t t t t t t t t t t
Chapter 1: An Introduction to Assurance and Financial Statement Auditing
t t t t t t t
Chapter 2: The Financial Statement Auditing Environment
t t t t
Chapter 3: Audit Planning, Types of Audit Tests, and Materiality
t t t t t t t
Chapter 4: Risk Assessment t
Chapter 5: Evidence and Documentation t t
Chapter 6: Internal Control in a Financial Statement Audit
t t t t t t
Chapter 7: Auditing Internal Control over Financial Reporting
t t t t t
Chapter 8: Audit Sampling: An Overview and Application to Tests of Controls
t t t t t t t t t
Chapter 9: Audit Sampling: An Application to Substantive Tests of Account
t t t t t t t t
Balances
t
Chapter 10: Auditing the Revenue Process t t t
Chapter 11: Auditing the Purchasing Process t t t
Chapter 12: Auditing the Human Resource Management Process t t t t t
Chapter 13: Auditing the Inventory Management Process t t t t
Chapter 14: Auditing the Financing/Investing Process: Prepaid Expenses, Intangible Assets,
t t t t t t t t t
tand Property, Plant, and Equipment
t t t t
Chapter 15: Auditing the Financing/Investing Process: Long-Term Liabilities, Stockholders’
t t t t t t t t
tEquity, and Income Statement Accounts
t t t t
Chapter 16: Auditing the Financing/Investing Process: Cash and Investments
t t t t t t t t
Chapter 17: Completing the Audit Engagement t t t
Chapter 18: Reports on Audited Financial Statements t t t t
Chapter 19: Professional Conduct, Independence, and Quality t t t t
Management t
Chapter 20: Legal Liability t
Chapter 21: Assurance, Attestation, and Internal Auditing Services t t t t t
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
t t t t t t t t t t
Auditing & Assurance Services: A Systematic Approach, 12e
t t t t t t t
t(Messier) Chapter 1 An Introduction to Assurance and Financial
t t t t t t t
tStatement Auditing t
1) Auditing focuses on rules, techniques, and computations required to prepare
t t t t t t t t t
tand analyze financial information.
t t t
ANSWER: FALSE t t
Difficulty: 1 Easy t t
Topic: The Importance for Studying Auditing t t t t
Learning Objective: 01-01 Understand why studying auditing can be valuable to you
t t t t t t t t t t t
twhether or not you plan to become an auditor, and why it is different from studying
t t t t t t t t t t t t t t t
taccounting.
Bloom's: Remember t
tAACSB: Communication
t
AICPA: BB Legal; FN Decision Making t t t t
2) Decision makers demand reliable information that is provided by accountants.
t t t t t t t t t
ANSWER: TRUE t t
Difficulty: 1 Easy t t
Topic: The Demand for Auditing and Assurance t t t t t
Learning Objective: 01-02 Understand the demand for auditing and be able to explain
t t t t t t t t t t t t
tthe desired characteristics of auditors and audit services through an analogy to a
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thouse inspector and a house inspection service.
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Bloom's: Understand t
tAACSB: Communication
t
AICPA: FN Decision Making; BB Industry t t t t
3) Information asymmetry seldom occurs. t t t
ANSWER: FALSE t t
Difficulty: 2 Medium t t
Topic: The Demand for Auditing and Assurance t t t t t
Learning Objective: 01-02 Understand the demand for auditing and be able to explain
t t t t t t t t t t t t
tthe desired characteristics of auditors and audit services through an analogy to a
t t t t t t t t t t t t
thouse inspector and a house inspection service.
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Bloom's: Apply
AACSB: Communication
AICPA: BB Industry; FN Reporting t t t
