TEST BANK For Auditing & Assurance Services: A
Systematic Approach, 12th Edition
Chapters 1 - 21 Complete
,
,Chapterk1:kAnkIntroductionktokAssurancekandkFinancialkStatementkAuditing
Chapterk2:kThekFinancialkStatementkAuditingkEnvironment
Chapterk3:kAuditkPlanning,kTypeskofkAuditkTests,kandkMateriality
Chapterk4:kRiskkAssessment
Chapterk5:kEvidencekandkDocumentation
Chapterk6:kInternalkControlkinkakFinancialkStatementkAudit
Chapterk7:kAuditingkInternalkControlkoverkFinancialkReporting
Chapterk8:kAuditkSampling:kAnkOverviewkandkApplicationktokTestskofkControls
Chapterk9:kAuditkSampling:kAnkApplicationktokSubstantivekTestskofkAccountkBalances
Chapterk10:kAuditingkthekRevenuekProcess
Chapterk11:kAuditingkthekPurchasingkProcess
Chapterk12:kAuditingkthekHumankResourcekManagementkProcess
Chapterk13:kAuditingkthekInventorykManagementkProcess
Chapterk14:kAuditingkthekFinancing/InvestingkProcess:kPrepaidkExpenses,kIntangiblekAssets,kandkPro
perty,kPlant,kandkEquipment
Chapterk15:kAuditingkthekFinancing/InvestingkProcess:kLong-
TermkLiabilities,kStockholders’kEquity,kandkIncomekStatementkAccounts
Chapterk16:kAuditingkthekFinancing/InvestingkProcess:kCashkandkInvestments
Chapterk17:kCompletingkthekAuditkEngagement
Chapterk18:kReportskonkAuditedkFinancialkStatements
Chapterk19:kProfessionalkConduct,kIndependence,kandkQualitykManagement
Chapterk20:kLegalkLiability
Chapterk21:kAssurance,kAttestation,kandkInternalkAuditingkServices
, Auditingk&kAssurancekServices:kAkSystematickApproach,k12ek(Messier)kChapterk
1k AnkIntroductionktokAssurancekandkFinancialkStatementkAuditing
1) Auditingkfocuseskonkrules,ktechniques,kandkcomputationskrequiredktokpreparekandkanalyz
ekfinancialkinformation.
ANSWER:k FALSEkDifficulty
:k1kEasy
Topic:k ThekImportancekforkStudyingkAuditing
LearningkObjective:k 01-
01kUnderstandkwhykstudyingkauditingkcankbekvaluablektokyoukwhetherkorknotkyoukplanktokbecomek
ankauditor,kandkwhykitkiskdifferentkfromkstudyingkaccounting.
Bloom's:k RememberkAAC
SB:k Communication
AICPA:k BBkLegal;kFNkDecisionkMaking
2) Decisionkmakerskdemandkreliablekinformationkthatkiskprovidedkbykaccountants.
ANSWER:k TRUEkDifficulty:
k1kEasy
Topic:k ThekDemandkforkAuditingkandkAssurance
LearningkObjective:k 01-
02kUnderstandkthekdemandkforkauditingkandkbekablektokexplainkthekdesiredkcharacteristicskofkaudi
torskandkauditkserviceskthroughkankanalogyktokakhousekinspectorkandkakhousekinspectionkservice.
Bloom's:k UnderstandkAAC
SB:k Communication
AICPA:k FNkDecisionkMaking;kBBkIndustry
3) Informationkasymmetrykseldomkoccurs.
ANSWER:k FALSEkDifficulty
:k2kMedium
Topic:k ThekDemandkforkAuditingkandkAssurance
LearningkObjective:k 01-
02kUnderstandkthekdemandkforkauditingkandkbekablektokexplainkthekdesiredkcharacteristicskofkaudi
torskandkauditkserviceskthroughkankanalogyktokakhousekinspectorkandkakhousekinspectionkservice.
Bloom's:k Apply
AACSB:k Communication
AICPA:k BBkIndustry;kFNkReporting
Systematic Approach, 12th Edition
Chapters 1 - 21 Complete
,
,Chapterk1:kAnkIntroductionktokAssurancekandkFinancialkStatementkAuditing
Chapterk2:kThekFinancialkStatementkAuditingkEnvironment
Chapterk3:kAuditkPlanning,kTypeskofkAuditkTests,kandkMateriality
Chapterk4:kRiskkAssessment
Chapterk5:kEvidencekandkDocumentation
Chapterk6:kInternalkControlkinkakFinancialkStatementkAudit
Chapterk7:kAuditingkInternalkControlkoverkFinancialkReporting
Chapterk8:kAuditkSampling:kAnkOverviewkandkApplicationktokTestskofkControls
Chapterk9:kAuditkSampling:kAnkApplicationktokSubstantivekTestskofkAccountkBalances
Chapterk10:kAuditingkthekRevenuekProcess
Chapterk11:kAuditingkthekPurchasingkProcess
Chapterk12:kAuditingkthekHumankResourcekManagementkProcess
Chapterk13:kAuditingkthekInventorykManagementkProcess
Chapterk14:kAuditingkthekFinancing/InvestingkProcess:kPrepaidkExpenses,kIntangiblekAssets,kandkPro
perty,kPlant,kandkEquipment
Chapterk15:kAuditingkthekFinancing/InvestingkProcess:kLong-
TermkLiabilities,kStockholders’kEquity,kandkIncomekStatementkAccounts
Chapterk16:kAuditingkthekFinancing/InvestingkProcess:kCashkandkInvestments
Chapterk17:kCompletingkthekAuditkEngagement
Chapterk18:kReportskonkAuditedkFinancialkStatements
Chapterk19:kProfessionalkConduct,kIndependence,kandkQualitykManagement
Chapterk20:kLegalkLiability
Chapterk21:kAssurance,kAttestation,kandkInternalkAuditingkServices
, Auditingk&kAssurancekServices:kAkSystematickApproach,k12ek(Messier)kChapterk
1k AnkIntroductionktokAssurancekandkFinancialkStatementkAuditing
1) Auditingkfocuseskonkrules,ktechniques,kandkcomputationskrequiredktokpreparekandkanalyz
ekfinancialkinformation.
ANSWER:k FALSEkDifficulty
:k1kEasy
Topic:k ThekImportancekforkStudyingkAuditing
LearningkObjective:k 01-
01kUnderstandkwhykstudyingkauditingkcankbekvaluablektokyoukwhetherkorknotkyoukplanktokbecomek
ankauditor,kandkwhykitkiskdifferentkfromkstudyingkaccounting.
Bloom's:k RememberkAAC
SB:k Communication
AICPA:k BBkLegal;kFNkDecisionkMaking
2) Decisionkmakerskdemandkreliablekinformationkthatkiskprovidedkbykaccountants.
ANSWER:k TRUEkDifficulty:
k1kEasy
Topic:k ThekDemandkforkAuditingkandkAssurance
LearningkObjective:k 01-
02kUnderstandkthekdemandkforkauditingkandkbekablektokexplainkthekdesiredkcharacteristicskofkaudi
torskandkauditkserviceskthroughkankanalogyktokakhousekinspectorkandkakhousekinspectionkservice.
Bloom's:k UnderstandkAAC
SB:k Communication
AICPA:k FNkDecisionkMaking;kBBkIndustry
3) Informationkasymmetrykseldomkoccurs.
ANSWER:k FALSEkDifficulty
:k2kMedium
Topic:k ThekDemandkforkAuditingkandkAssurance
LearningkObjective:k 01-
02kUnderstandkthekdemandkforkauditingkandkbekablektokexplainkthekdesiredkcharacteristicskofkaudi
torskandkauditkserviceskthroughkankanalogyktokakhousekinspectorkandkakhousekinspectionkservice.
Bloom's:k Apply
AACSB:k Communication
AICPA:k BBkIndustry;kFNkReporting
