if in need of any academic assistance email at
TEST BANK Auditing & Assurance Services:
-- -- -- -- -- --
A Systematic Approach, 11th Edition Chapters
-- -- -- -- -- --
1 - 21
-- -- --
,if in need of any academic assistance email at
Chapter--1:--An--Introduction--to--Assurance--and--Financial--Statement--Auditing
Chapter--2:--The--Financial--Statement--Auditing--Environment
Chapter--3:--Audit--Planning,--Types--of--Audit--Tests,--and--Materiality
Chapter--4:--Risk--Assessment
Chapter--5:--Evidence--and--Documentation
Chapter--6:--Internal--Control--in--a--Financial--Statement--Audit
Chapter--7:--Auditing--Internal--Control--over--Financial--Reporting
Chapter--8:--Audit--Sampling:--An--Overview--and--Application--to--Tests--of--Controls
Chapter--9:--Audit--Sampling:--An--Application--to--Substantive--Tests--of--Account--Balances
Chapter--10:--Auditing--the--Revenue--Process
Chapter--11:--Auditing--the--Purchasing--Process
Chapter--12:--Auditing--the--Human--Resource--Management--Process
Chapter--13:--Auditing--the--Inventory--Management--Process
Chapter--14:--Auditing--the--Financing/Investing--Process:--Prepaid--Expenses,--Intangible--Assets,--
and--Property,--Plant,--and--Equipment
Chapter--15:--Auditing--the--Financing/Investing--Process:--Long-Term--Liabilities,--Stockholders’--
Equity,--and--Income--Statement--Accounts
Chapter--16:--Auditing--the--Financing/Investing--Process:--Cash--and--Investments
Chapter--17:--Completing--the--Audit--Engagement
Chapter--18:--Reports--on--Audited--Financial--Statements
Chapter--19:--Professional--Conduct,--Independence,--and--Quality--Management
Chapter--20:--Legal--Liability
Chapter--21:--Assurance,--Attestation,--and--Internal--Auditing--Services
,if in need of any academic assistance email at
Chapter 01 -- -
An Introduction to Assurance and Financial Statement Auditing
-- -- -- -- -- -- --
True- - /- - False- - Questions
1. Independence-- standards -- are-- required-- for-- audits-- of-- public-- companies,-- but-- not-- for--
audits-of--private--companies.
True False
2. Decision-- makers-- demand-- reliable- - information- - that- - is-- provided-- by- - accountants.
True False
3. Information- - asymmetry- - seldom- - occurs.
True False
4. Conflicts-- of-- interest--often--occur-- between-- absentee-- owners-- and-- managers.
True False
5. Auditing- - services- - and- - attestation- - services- - are- - the-- same.
True False
6. Auditing--is--a--type--of--attest--service.
True False
7. Testing--all--transactions --that--occurred--during--the--period--is--cost--prohibitive.
True False
Multiple--Choice-- Questions
, if in need of any academic assistance email at
8. Why--do--auditors--generally--use--a--sampling--approach--to--evidence--gathering?
A. Auditors-- are--experts -- and--do--not--need--to--look--at--much--to--know--whether--the--
financial-statements--are--correct--or--not.
B. Auditors-- must--balance--the--cost--of--the--audit--with--the--need--
for-precision.
C. Auditors--must--limit--their--exposure--to--their--auditee--to--
maintain-independence.
D. The--auditor's --relationship--with--the--auditee--is--generally--adversarial,--so--the--auditor--
will-not--have--access--to--all--of--the--financial--information--of--the--company.
9. Which-- of-- the- - following-- statements -- best- - describes -- a-- relationship- - between-- sample- - size- -
and-other--elements--of--auditing?
A. If- - materiality- - increases, - - so- - will- -
the-sample--size.
B. If-- the- - desired-- level- - of-- assurance- - increases,-- sample- - sizes-- can- -
be-smaller.
C. If--materiality--decreases,--sample--size--will--need--
to-increase.
D. There--is--no--relationship-- between--sample--size-- and-- materiality--or--the-- desired--
level-of--assurance.
10. Which-- of--the-- following-- statements -- about-- the-- study--of-- auditing-- is-- NOT-- true?
A. The- - study- - of- - auditing- - can- - be- - valuable- - to- - future- - accountants - - and- - business --
decision-makers--whether--or--not--they--plan--to--become--auditors.
B. The-- study-- of-- auditing-- focuses- - on-- learning-- the- - analytical- - and- - logical-- skills-- necessary-
- to-evaluate --the --relevance --and --reliability--of--information.
C. The-- study-- of-- auditing-- focuses-- on-- learning- - the-- rules,-- techniques,-- and- -
computations-required--to--analyze--financial--statements.
D. The-- study-- of-- auditing-- begins-- with-- the-- understanding-- of-- a-- coherent-- logical--
framework--and--techniques--useful--for--gathering--and--analyzing--evidence--about--others'-
-assertions.
11. The--basic--purpose--of--a--financial--statement--audit--is--to
A. Detect-
fraud.
B. Examine-- individual-- transactions -- so-- that-- the-- auditor-- may-- certify-- as--
to-their--validity.
C. Provide- - assurance- - regarding- - whether- - the- - auditee's- - financial- - statements- -
are-fairly--stated.
D. Assure- - the-- consistent-- application- - of-- correct--
accounting-procedures.
TEST BANK Auditing & Assurance Services:
-- -- -- -- -- --
A Systematic Approach, 11th Edition Chapters
-- -- -- -- -- --
1 - 21
-- -- --
,if in need of any academic assistance email at
Chapter--1:--An--Introduction--to--Assurance--and--Financial--Statement--Auditing
Chapter--2:--The--Financial--Statement--Auditing--Environment
Chapter--3:--Audit--Planning,--Types--of--Audit--Tests,--and--Materiality
Chapter--4:--Risk--Assessment
Chapter--5:--Evidence--and--Documentation
Chapter--6:--Internal--Control--in--a--Financial--Statement--Audit
Chapter--7:--Auditing--Internal--Control--over--Financial--Reporting
Chapter--8:--Audit--Sampling:--An--Overview--and--Application--to--Tests--of--Controls
Chapter--9:--Audit--Sampling:--An--Application--to--Substantive--Tests--of--Account--Balances
Chapter--10:--Auditing--the--Revenue--Process
Chapter--11:--Auditing--the--Purchasing--Process
Chapter--12:--Auditing--the--Human--Resource--Management--Process
Chapter--13:--Auditing--the--Inventory--Management--Process
Chapter--14:--Auditing--the--Financing/Investing--Process:--Prepaid--Expenses,--Intangible--Assets,--
and--Property,--Plant,--and--Equipment
Chapter--15:--Auditing--the--Financing/Investing--Process:--Long-Term--Liabilities,--Stockholders’--
Equity,--and--Income--Statement--Accounts
Chapter--16:--Auditing--the--Financing/Investing--Process:--Cash--and--Investments
Chapter--17:--Completing--the--Audit--Engagement
Chapter--18:--Reports--on--Audited--Financial--Statements
Chapter--19:--Professional--Conduct,--Independence,--and--Quality--Management
Chapter--20:--Legal--Liability
Chapter--21:--Assurance,--Attestation,--and--Internal--Auditing--Services
,if in need of any academic assistance email at
Chapter 01 -- -
An Introduction to Assurance and Financial Statement Auditing
-- -- -- -- -- -- --
True- - /- - False- - Questions
1. Independence-- standards -- are-- required-- for-- audits-- of-- public-- companies,-- but-- not-- for--
audits-of--private--companies.
True False
2. Decision-- makers-- demand-- reliable- - information- - that- - is-- provided-- by- - accountants.
True False
3. Information- - asymmetry- - seldom- - occurs.
True False
4. Conflicts-- of-- interest--often--occur-- between-- absentee-- owners-- and-- managers.
True False
5. Auditing- - services- - and- - attestation- - services- - are- - the-- same.
True False
6. Auditing--is--a--type--of--attest--service.
True False
7. Testing--all--transactions --that--occurred--during--the--period--is--cost--prohibitive.
True False
Multiple--Choice-- Questions
, if in need of any academic assistance email at
8. Why--do--auditors--generally--use--a--sampling--approach--to--evidence--gathering?
A. Auditors-- are--experts -- and--do--not--need--to--look--at--much--to--know--whether--the--
financial-statements--are--correct--or--not.
B. Auditors-- must--balance--the--cost--of--the--audit--with--the--need--
for-precision.
C. Auditors--must--limit--their--exposure--to--their--auditee--to--
maintain-independence.
D. The--auditor's --relationship--with--the--auditee--is--generally--adversarial,--so--the--auditor--
will-not--have--access--to--all--of--the--financial--information--of--the--company.
9. Which-- of-- the- - following-- statements -- best- - describes -- a-- relationship- - between-- sample- - size- -
and-other--elements--of--auditing?
A. If- - materiality- - increases, - - so- - will- -
the-sample--size.
B. If-- the- - desired-- level- - of-- assurance- - increases,-- sample- - sizes-- can- -
be-smaller.
C. If--materiality--decreases,--sample--size--will--need--
to-increase.
D. There--is--no--relationship-- between--sample--size-- and-- materiality--or--the-- desired--
level-of--assurance.
10. Which-- of--the-- following-- statements -- about-- the-- study--of-- auditing-- is-- NOT-- true?
A. The- - study- - of- - auditing- - can- - be- - valuable- - to- - future- - accountants - - and- - business --
decision-makers--whether--or--not--they--plan--to--become--auditors.
B. The-- study-- of-- auditing-- focuses- - on-- learning-- the- - analytical- - and- - logical-- skills-- necessary-
- to-evaluate --the --relevance --and --reliability--of--information.
C. The-- study-- of-- auditing-- focuses-- on-- learning- - the-- rules,-- techniques,-- and- -
computations-required--to--analyze--financial--statements.
D. The-- study-- of-- auditing-- begins-- with-- the-- understanding-- of-- a-- coherent-- logical--
framework--and--techniques--useful--for--gathering--and--analyzing--evidence--about--others'-
-assertions.
11. The--basic--purpose--of--a--financial--statement--audit--is--to
A. Detect-
fraud.
B. Examine-- individual-- transactions -- so-- that-- the-- auditor-- may-- certify-- as--
to-their--validity.
C. Provide- - assurance- - regarding- - whether- - the- - auditee's- - financial- - statements- -
are-fairly--stated.
D. Assure- - the-- consistent-- application- - of-- correct--
accounting-procedures.
