TEST BANK For Auditing & Assurance Services: A Systematic Approach, 12th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version

Test Bank for Auditing & Assurance Services A Systematic Approach
12th Edition By Messier
All Chapters Complete

,Chapter 1-21
l Answers are at the End of Each Chapter
l l l l l l l




Chapter 1 l




Student name:
l l




1) Whyldolauditorsloftenluselalsamplinglapproachltolevidencelgathering?
1)ll

A) Auditorslarelexpertslandldolnotlneedltollooklatlmuchltolknowlwhetherlthelfinanciall statem
entslarelcorrectlorlnot.
B) Auditorslmustlbalancelthelcostloflthelauditlwithlthelneedlforlprecisionlandlforlsomeltypeslofl evidenc
e,lcomputerldatalanalyticlapproacheslcan’tlbelused.
C) Auditorslmustllimitltheirlexposureltoltheirlauditeeltolmaintainlindependence.
D) Thelauditor'slrelationshiplwithlthelauditeelislgenerallyladversarial,lsolthelauditorlwilllnotl havel
accessltolallloflthelfinanciallinformationloflthelcompany.



QuestionlDetails
AACSBl:l Communicationl AICPAl:lFN
lDecisionlMaking

Accessibilityl:lKeyboardlNavigationl Difficultyl:l1
lEasy

AICPAl:lBBlIndustryl Bloom'sl:lUn
derstand
LearninglObjectivel:l01-
05lUnderstandlwhylsamplinglislimportantlinlanlaudit.l Gradablel:lautomatic
Accessibilityl:lScreenlReaderlCompatiblel To
picl:lThelAuditlProcess



2) Whichloflthelfollowinglstatementslbestldescribeslalrelationshiplbetweenlsamplelsizelandl other

,elementsloflauditing?
l

2)ll

, A) Iflmaterialitylincreases,lsolwilllthelsamplelsize.
B) Ifltheldesiredllevelloflassurancelincreases,lsamplelsizeslcanlbelsmaller.
C) Iflmaterialityldecreases,lsamplelsizelwilllneedltolincrease.
D) Therelislnolrelationshiplbetweenlsamplelsizelandlmaterialitylorltheldesiredllevellofl assur
ance.



QuestionlDetails
Accessibilityl:lKeyboardlNavigationl Bloom's
l:lApply

Difficultyl:l2lMedium
AICPAl:lBBlCriticallThinkingl AAC
SBl:l AnalyticallThinkingl AICPAl:lF
NlRisklAnalysis
LearninglObjectivel:l01-
05lUnderstandlwhylsamplinglislimportantlinlanlaudit.l Gradablel:lautomatic
Accessibilityl:lScreenlReaderlCompatiblel To
picl:lThelAuditlProcess




3) WhichloflthelfollowinglstatementslaboutlthelstudyloflauditinglislNOTltrue?
3)ll


A) Thelstudyloflauditinglcanlbelvaluableltolfuturelaccountantslandlbusinessldecisionlmakersl wheth
erlorlnotltheylplanltolbecomelauditors.
B) Thelstudyloflauditinglfocuseslonllearninglthelanalyticallandllogicallskillslnecessaryltol evalua
telthelrelevancelandlreliabilityloflinformation.
C) Thelstudyloflauditinglfocuseslonllearninglthelrules,ltechniques,landlcomputationslrequiredltol analyz
elfinanciallstatementslforlmakinglinvestmentlrecommendations.
D) Thelstudyloflauditinglbeginslwithlthelunderstandingloflalcoherentllogicallframeworklandl techni
queslusefullforlgatheringlandlanalyzinglevidencelaboutlothers’lassertions.