TEST BANK FOR Auditing & Assurance Services: A Systematic Approach 12TH Edition, International edition, by Douglas F. Prawitt William F. Messier Jr, Steven M. Glover ISBN:978-1265019624 ALL CHAPTERS COVERED YOUR ULTIMATE GUIDE 100% VERIFIED A+ GRADE ASS

TEST BANK For Auditing & Assurance Services: A Sys
JA JA JA JA JA JA JA JAJA




tematic Approach, 12th Edition by Messier
JA JA JA JA JA J A




Chapters 1 - 21 Complete
JA JA JA JA

,ChapterJA1:JAAnJAIntroductiontoJAAssuranceandJAFinancialJAStatementJAAuditi

ngJAChapterJ A 2:J A TheJ A FinancialJ A StatementJ A AuditingJ A Environment

J A ChapterJA3:JAAuditJAPlanning,lTypesofAuditJATests,landJAMaterialityJ A




ChapterJA4:JARiskJAAssessment

ChapterJ A J A J A J A J A J A 5:J A J A J A J A J A J A EvidenceandJ A J A J A J A J A

J A DocumentationJ A ChapterJ A J A 6:J A J A InternalJ A J A ControlinaJ A J A Fin

ancialJ A J A StatementlAuditJ A ChapterJ A J A 7:J A J A AuditingJ A J A InternalJ A J A Con

troloverJ A J A FinancialJ A J A ReportingJ A ChapterJA8:JAAuditlSampling:JAAnJAOvervie

wandJAApplicationtoJATestsofControlsJAChapterJA9:JAAuditlSampling:JAAnJAApplicationt

olSubstantiveJATestsloflAccountJABalancesJAChapterJ A J A J A J A 10:J A J A J A J A J

A AuditingtheJ A J A J A J A RevenueJ A J A J A J A ProcessJ A ChapterJ A J A J

A J A 11:J A J A J A J A AuditingtheJ A J A J A J A PurchasingJ A J A J A J A Process

J A ChapterJ A 12:J A J A AuditingtheJ A HumanJ A ResourceJ A J A ManagementJ A J A Pr

ocessJ A ChapterJA13:JAAuditingtheJAInventoryJAManagementJAProcess

ChapterJA14:JAAuditingtheJAFinancing/InvestingJAProcess:lPrepaidJAExpenses,JAIntangiblelAssets,JAandJAPropert
y,JAPlant,landJAEquipment

ChapterJA15:JAAuditingtheJAFinancing/InvestingJAProcess:lLong-
J A TermJALiabilities, JAStockholders’JAEquity,JAandJAIncomeJAStatementJAAcco

unts

ChapterJA16:JAAuditingtheJAFinancing/InvestingJAProcess:lCashandJAInvestments

JA ChapterJ A J A J A 17:J A J A J A CompletingtheJ A J A J A AuditJ A J A J A En

gagementJ A ChapterJ A J A 18:J A J A ReportsonJ A J A AuditedJ A J A Financi

alJ A J A StatementsJ A ChapterJA19:JAProfessionalJAConduct,JAIndependence,JA

andJAQualityJAManagementJAChapterJA20:JALegalJALiability

,ChapterJA21:JAAssurance,JAAttestation, JAandJAInternalJAAuditingJAServices


Auditing&JAAssuranceJAServices:JAASystematicJAApproach,l12e(Messier)JAChapterJA1J A AnJAI
ntrJAoductiontoJAAssuranceandJAFinancialJAStatementJAAuditing

1) Auditingfocusesonrules,ltechniques,andcomputationslrequiredtoprepareandanalyzefinanJ A J A

J A cialinformation.




ANSWER:lJAFALSElDifficulty:
1Easy
Topic:JATheImportanceforStudyingJAAuditingJAL
earningJAObjective:JA01-
01UnderstandwhystudyingauditingcanbevaluabletoyouwhetherornotlyouplantolbecomeanauditJ
A J A or,JAandwhyitlisdifferentfromstudyingaccounting.

Bloom's:J A RememberJAAACSB
:JACommunication
AICPA:JABBLegal;FNDecisionMaking

2) Decisionmakersdemandreliableinformationthatislprovidedbyaccountants.

ANSWER:lJATRUEDifficulty:
1Easy
Topic:JATheJADemandforAuditingandJAAssurance
JALearningJAObjective:JA01-

02UnderstandtheldemandforauditingandbeabletolexplainthedesiredcharacteristicsofauditorsaJ A J A

J A ndauditserviceslthroughananalogytoahouseinspectorandahouseinspectionservice.

Bloom's:JAUnderstandJAAACS
JAB:lJACommunication

AICPA:J A FNDecisionJAMaking;BBIndustry

3) Informationasymmetryseldomoccurs.

ANSWER:lJAFALSElDifficulty:
2Medium
Topic:JATheJADemandforAuditingandJAAssurance
JALearningJAObjective:JA01-

02UnderstandtheldemandforauditingandbeabletolexplainthedesiredcharacteristicsofauditorsaJ A J A

J A ndauditserviceslthroughananalogytoahouselinspectorandahouseinspectionservice.

Bloom's:J A Apply
AACSB:JACommunication
AICPA:J A BBIndustry;JAFNReporting

, 4) Conflictslofinterestoftenoccurbetweenlabsenteeownerslandmanagers.

ANSWER:lJATRUEDifficulty:
2Medium
Topic:JATheJADemandforAuditingandJAAssurance
JALearningJAObjective:JA01-

02UnderstandtheldemandforauditingandbeabletolexplainthedesiredcharacteristicsofauditorsaJ A J A

J A ndauditserviceslthroughananalogytoahouselinspectorandahouseinspectionservice.

Bloom's:J A Apply
AACSB:JACommunication
AICPA:J A BBIndustry;JAFNReporting

5) Auditingserviceslandattestationserviceslarethelsame.

ANSWER:lJAFALSElDifficulty:
1Easy
Topic:JAAuditing,JAAttest,andAssuranceJAServicesDefinedJALearning
Objective:JA01-
03Understandtherelationshipsamongauditing,lattestation,andassuranceservices.J A J A J

A Bloom's:JAUnderstand JAAACS

B:JACommunication
AICPA:J A BBIndustry;JAFNReporting

6) Auditingisatypeofattestservice.JA

ANSWER:lJATRUEDifficulty:
1Easy
Topic:JAAuditing,JAAttest,landAssuranceJAServicesDefinedJALearning
Objective:JA01-
03Understandtherelationshipsamongauditing,lattestation,landassuranceservices.;l01-
J A J A J A 04Knowthebasicdefinitionofafinancialstatementaudit.

Bloom's:JAUnderstandJAAACS
JAB:lJACommunication

AICPA:J A BBIndustry;JAFNReporting

7) Testingalltransactionsthatloccurredduringtheperiodislcostlprohibitive.

ANSWER:lJATRUEDifficulty:
2JAMediumJATopic:JATheAuditP
JArocess

LearningJAObjective:JA01-
JA06BeableltoexplainwhyonmostauditengagementsanauditortestslonlyasampleoftransactionsthatJ A J A J

A J A J A occurred.

Bloom's:J A Apply
AACSB:JACommunication
AICPA:J A FNDecisionMaking;BBCriticalJAThinking