TEST BANK For Auditing & Assurance
v v v v v
v Services: A Systematic Approach, 12th
v v v v
v Edition v
Chapters 1 - 21 Complete
v v v v
,
,Chapter v1: vAn vIntroduction vto vAssurance vand vFinancial vStatement vAuditing
Chapter v2: vThe vFinancial vStatement vAuditing vEnvironment
Chapter v3: vAudit vPlanning, vTypes vof vAudit vTests, vand vMateriality
Chapter v4: vRisk vAssessment
Chapter v5: vEvidence vand vDocumentation
Chapter v6: vInternal vControl vin va vFinancial vStatement vAudit
Chapter v7: vAuditing vInternal vControl vover vFinancial vReporting
Chapter v8: vAudit vSampling: vAn vOverview vand vApplication vto vTests vof vControls
Chapter v9: vAudit vSampling: vAn vApplication vto vSubstantive vTests vof vAccount vBalances
Chapter v10: vAuditing vthe vRevenue vProcess
Chapter v11: vAuditing vthe vPurchasing vProcess
Chapter v12: vAuditing vthe vHuman vResource vManagement vProcess
Chapter v13: vAuditing vthe vInventory vManagement vProcess
Chapter v14: vAuditing vthe vFinancing/Investing vProcess: vPrepaid vExpenses, vIntangible
vAssets, vand vProperty, vPlant, vand vEquipment
Chapter v15: vAuditing vthe vFinancing/Investing vProcess: vLong-Term vLiabilities,
vStockholders’ vEquity, vand vIncome vStatement vAccounts
Chapter v16: vAuditing vthe vFinancing/Investing vProcess: vCash vand vInvestments
Chapter v17: vCompleting vthe vAudit vEngagement
Chapter v18: vReports von vAudited vFinancial vStatements
Chapter v19: vProfessional vConduct, vIndependence, vand vQuality vManagement
Chapter v20: vLegal vLiability
Chapter v21: vAssurance, vAttestation, vand vInternal vAuditing vServices
, Auditing v& vAssurance vServices: vA vSystematic vApproach, v12e v(Messier)
vChapter v1 v An vIntroduction vto vAssurance vand vFinancial vStatement
vAuditing
1) Auditing vfocuses von vrules, vtechniques, vand vcomputations vrequired vto vprepare vand
vanalyze vfinancial vinformation.
ANSWER: v FALSE
vDifficulty: v1 vEasy
Topic: v The vImportance vfor vStudying vAuditing
Learning vObjective: v 01-01 vUnderstand vwhy vstudying vauditing vcan vbe vvaluable vto vyou
vwhether vor vnot vyou vplan vto vbecome van vauditor, vand vwhy vit vis vdifferent vfrom vstudying
vaccounting.
Bloom's: v Remember
vAACSB:
v Communication
AICPA: v BB vLegal; vFN vDecision vMaking
2) Decision vmakers vdemand vreliable vinformation vthat vis vprovided vby vaccountants.
ANSWER: v TRUE
vDifficulty: v1 vEasy
Topic: v The vDemand vfor vAuditing vand vAssurance
Learning vObjective: v 01-02 vUnderstand vthe vdemand vfor vauditing vand vbe vable vto vexplain
vthe vdesired vcharacteristics vof vauditors vand vaudit vservices vthrough van vanalogy vto va vhouse
vinspector vand va vhouse vinspection vservice.
Bloom's: v Understand
vAACSB:
v Communication
AICPA: v FN vDecision vMaking; vBB vIndustry
3) Information vasymmetry vseldom voccurs.
ANSWER: v FALSE
vDifficulty: v2 vMedium
Topic: v The vDemand vfor vAuditing vand vAssurance
Learning vObjective: v 01-02 vUnderstand vthe vdemand vfor vauditing vand vbe vable vto vexplain
vthe vdesired vcharacteristics vof vauditors vand vaudit vservices vthrough van vanalogy vto va vhouse
vinspector vand va vhouse vinspection vservice.
Bloom's: v Apply
AACSB: v Communication
AICPA: v BB vIndustry; vFN vReporting
v v v v v
v Services: A Systematic Approach, 12th
v v v v
v Edition v
Chapters 1 - 21 Complete
v v v v
,
,Chapter v1: vAn vIntroduction vto vAssurance vand vFinancial vStatement vAuditing
Chapter v2: vThe vFinancial vStatement vAuditing vEnvironment
Chapter v3: vAudit vPlanning, vTypes vof vAudit vTests, vand vMateriality
Chapter v4: vRisk vAssessment
Chapter v5: vEvidence vand vDocumentation
Chapter v6: vInternal vControl vin va vFinancial vStatement vAudit
Chapter v7: vAuditing vInternal vControl vover vFinancial vReporting
Chapter v8: vAudit vSampling: vAn vOverview vand vApplication vto vTests vof vControls
Chapter v9: vAudit vSampling: vAn vApplication vto vSubstantive vTests vof vAccount vBalances
Chapter v10: vAuditing vthe vRevenue vProcess
Chapter v11: vAuditing vthe vPurchasing vProcess
Chapter v12: vAuditing vthe vHuman vResource vManagement vProcess
Chapter v13: vAuditing vthe vInventory vManagement vProcess
Chapter v14: vAuditing vthe vFinancing/Investing vProcess: vPrepaid vExpenses, vIntangible
vAssets, vand vProperty, vPlant, vand vEquipment
Chapter v15: vAuditing vthe vFinancing/Investing vProcess: vLong-Term vLiabilities,
vStockholders’ vEquity, vand vIncome vStatement vAccounts
Chapter v16: vAuditing vthe vFinancing/Investing vProcess: vCash vand vInvestments
Chapter v17: vCompleting vthe vAudit vEngagement
Chapter v18: vReports von vAudited vFinancial vStatements
Chapter v19: vProfessional vConduct, vIndependence, vand vQuality vManagement
Chapter v20: vLegal vLiability
Chapter v21: vAssurance, vAttestation, vand vInternal vAuditing vServices
, Auditing v& vAssurance vServices: vA vSystematic vApproach, v12e v(Messier)
vChapter v1 v An vIntroduction vto vAssurance vand vFinancial vStatement
vAuditing
1) Auditing vfocuses von vrules, vtechniques, vand vcomputations vrequired vto vprepare vand
vanalyze vfinancial vinformation.
ANSWER: v FALSE
vDifficulty: v1 vEasy
Topic: v The vImportance vfor vStudying vAuditing
Learning vObjective: v 01-01 vUnderstand vwhy vstudying vauditing vcan vbe vvaluable vto vyou
vwhether vor vnot vyou vplan vto vbecome van vauditor, vand vwhy vit vis vdifferent vfrom vstudying
vaccounting.
Bloom's: v Remember
vAACSB:
v Communication
AICPA: v BB vLegal; vFN vDecision vMaking
2) Decision vmakers vdemand vreliable vinformation vthat vis vprovided vby vaccountants.
ANSWER: v TRUE
vDifficulty: v1 vEasy
Topic: v The vDemand vfor vAuditing vand vAssurance
Learning vObjective: v 01-02 vUnderstand vthe vdemand vfor vauditing vand vbe vable vto vexplain
vthe vdesired vcharacteristics vof vauditors vand vaudit vservices vthrough van vanalogy vto va vhouse
vinspector vand va vhouse vinspection vservice.
Bloom's: v Understand
vAACSB:
v Communication
AICPA: v FN vDecision vMaking; vBB vIndustry
3) Information vasymmetry vseldom voccurs.
ANSWER: v FALSE
vDifficulty: v2 vMedium
Topic: v The vDemand vfor vAuditing vand vAssurance
Learning vObjective: v 01-02 vUnderstand vthe vdemand vfor vauditing vand vbe vable vto vexplain
vthe vdesired vcharacteristics vof vauditors vand vaudit vservices vthrough van vanalogy vto va vhouse
vinspector vand va vhouse vinspection vservice.
Bloom's: v Apply
AACSB: v Communication
AICPA: v BB vIndustry; vFN vReporting
