TEST BANK For
LooSe Leaf For Auditing & ASSurance
ServiceS 9th Edition LateSt VerSion 2025/2026
[A+] All ChapterS Fully Covered
By Timothy J. LouwerS (Author), Penelope Bagley (Author), Allen Blay (Author), & 2 More
,TABLE OF CONTENTS
PART ONE: THE CONTEMPORARY AUDITING ENVIRONMENT
1. Auditing And ASSurance ServiceS
2. ProfeSSional StandardS
PART TWO: THE FINANCIAL STATEMENT AUDIT
3. Engagement Planning And Audit Evidence
4. The Audit RiSk Model And Inherent RiSk ASSeSSment
5. RiSk ASSeSSment: Internal Control Evaluation
6. Employee Fraud And The Audit Of CaSh
7. Revenue And Collection Cycle
8. AcquiSition And Expenditure Cycle
9. The Production Cycle And Auditing Inventory
10. Finance And InveStment Cycle
11. Completing The Audit
12. ReportS On Audited Financial StatementS
PART THREE: STAND-ALONE MODULES
A. Other Public Accounting ServiceS
B. ProfeSSional EthicS
C. Legal Liability
D. Internal AuditS, Governmental AuditS, And Fraud ExaminationS
E. AttributeS Sampling
F. VariableS Sampling
G. Data And AnalyticS In Auditing
H. Information Technology Auditing
I. The Audit Of Internal Control For ISSuerS
,TeSt Bank For Auditing & ASSurance ServiceS 9th Edition By Timothy
LouwerS, Jerry StrawSer
Chap 01 9e
AnSwerS Key At The End Of Every Chapter
1) The Audit Objective That All TranSactionS And AccountS That Should Be PreSented In The
Financial StatementS Are In Fact Included IS Related To Which Of The PCAOB ASSertionS?
A) ExiStence
B) RightS And ObligationS
C) CompleteneSS
D) Valuation
2) Cutoff TeStS DeSigned To Detect PurchaSeS Made Before The End Of The Year That Have Been
Recorded In The SubSequent Year Provide ASSurance About Management'S ASSertion Of
A) PreSentation And DiScloSure.
B) CompleteneSS.
C) RightS And ObligationS.
D) ExiStence.
3) During An Audit Of An Entity'S StockholderS' Equity AccountS, The Auditor DetermineS Whether
There Are ReStrictionS On Retained EarningS ReSulting From LoanS, AgreementS, Or State Law. ThiS
Audit Procedure MoSt Likely IS Intended To Verify Management'S ASSertion Of
A) ExiStence Or Occurrence.
B) CompleteneSS.
, C) Valuation Or Allocation.
D) PreSentation And DiScloSure.
4) The Confirmation Of An Account Payable Balance Selected From The General Ledger ProvideS
Primary Evidence Regarding Which Management ASSertion?
A) CompleteneSS
B) Valuation
C) Allocation
D) ExiStence
5) What Type Of Evidence Would Provide The HigheSt Level Of ASSurance In An AtteStation
Engagement?
A) Evidence Secured Solely From Within The Entity.
B) Evidence Obtained From Independent SourceS.
C) Evidence Obtained Indirectly.
D) Evidence Obtained From Multiple Internal InquirieS.
6) Which Of The Following Management ASSertionS IS An Auditor MoSt Likely TeSting If The Audit
Objective StateS That All Inventory On Hand IS Reflected In The Ending Inventory Balance?
A) The Entity HaS RightS To The Inventory.
B) Inventory IS Properly Valued.
C) Inventory IS Properly PreSented In The Financial StatementS.
D) Inventory IS Complete.
7) An Auditor TraceS The Serial NumberS On Equipment To A NoniSSuer'S Subledger. Which Of The
Following Management ASSertionS IS Supported By ThiS TeSt?
A) Valuation And Allocation
LooSe Leaf For Auditing & ASSurance
ServiceS 9th Edition LateSt VerSion 2025/2026
[A+] All ChapterS Fully Covered
By Timothy J. LouwerS (Author), Penelope Bagley (Author), Allen Blay (Author), & 2 More
,TABLE OF CONTENTS
PART ONE: THE CONTEMPORARY AUDITING ENVIRONMENT
1. Auditing And ASSurance ServiceS
2. ProfeSSional StandardS
PART TWO: THE FINANCIAL STATEMENT AUDIT
3. Engagement Planning And Audit Evidence
4. The Audit RiSk Model And Inherent RiSk ASSeSSment
5. RiSk ASSeSSment: Internal Control Evaluation
6. Employee Fraud And The Audit Of CaSh
7. Revenue And Collection Cycle
8. AcquiSition And Expenditure Cycle
9. The Production Cycle And Auditing Inventory
10. Finance And InveStment Cycle
11. Completing The Audit
12. ReportS On Audited Financial StatementS
PART THREE: STAND-ALONE MODULES
A. Other Public Accounting ServiceS
B. ProfeSSional EthicS
C. Legal Liability
D. Internal AuditS, Governmental AuditS, And Fraud ExaminationS
E. AttributeS Sampling
F. VariableS Sampling
G. Data And AnalyticS In Auditing
H. Information Technology Auditing
I. The Audit Of Internal Control For ISSuerS
,TeSt Bank For Auditing & ASSurance ServiceS 9th Edition By Timothy
LouwerS, Jerry StrawSer
Chap 01 9e
AnSwerS Key At The End Of Every Chapter
1) The Audit Objective That All TranSactionS And AccountS That Should Be PreSented In The
Financial StatementS Are In Fact Included IS Related To Which Of The PCAOB ASSertionS?
A) ExiStence
B) RightS And ObligationS
C) CompleteneSS
D) Valuation
2) Cutoff TeStS DeSigned To Detect PurchaSeS Made Before The End Of The Year That Have Been
Recorded In The SubSequent Year Provide ASSurance About Management'S ASSertion Of
A) PreSentation And DiScloSure.
B) CompleteneSS.
C) RightS And ObligationS.
D) ExiStence.
3) During An Audit Of An Entity'S StockholderS' Equity AccountS, The Auditor DetermineS Whether
There Are ReStrictionS On Retained EarningS ReSulting From LoanS, AgreementS, Or State Law. ThiS
Audit Procedure MoSt Likely IS Intended To Verify Management'S ASSertion Of
A) ExiStence Or Occurrence.
B) CompleteneSS.
, C) Valuation Or Allocation.
D) PreSentation And DiScloSure.
4) The Confirmation Of An Account Payable Balance Selected From The General Ledger ProvideS
Primary Evidence Regarding Which Management ASSertion?
A) CompleteneSS
B) Valuation
C) Allocation
D) ExiStence
5) What Type Of Evidence Would Provide The HigheSt Level Of ASSurance In An AtteStation
Engagement?
A) Evidence Secured Solely From Within The Entity.
B) Evidence Obtained From Independent SourceS.
C) Evidence Obtained Indirectly.
D) Evidence Obtained From Multiple Internal InquirieS.
6) Which Of The Following Management ASSertionS IS An Auditor MoSt Likely TeSting If The Audit
Objective StateS That All Inventory On Hand IS Reflected In The Ending Inventory Balance?
A) The Entity HaS RightS To The Inventory.
B) Inventory IS Properly Valued.
C) Inventory IS Properly PreSented In The Financial StatementS.
D) Inventory IS Complete.
7) An Auditor TraceS The Serial NumberS On Equipment To A NoniSSuer'S Subledger. Which Of The
Following Management ASSertionS IS Supported By ThiS TeSt?
A) Valuation And Allocation
