TEST BANK For Auditing & Assurance Services: A
b b b b b b b
Systematic Approach, 12th Edition
b b b b b
Chapters 1 - 21 Complete
b b b b
,
,Chapter b1: bAn bIntroduction bto bAssurance band bFinancial bStatement bAuditing
Chapter b2: bThe bFinancial bStatement bAuditing bEnvironment
Chapter b3: bAudit bPlanning, bTypes bof bAudit bTests, band bMateriality
Chapter b4: bRisk bAssessment
Chapter b5: bEvidence band bDocumentation
Chapter b6: bInternal bControl bin ba bFinancial bStatement bAudit
Chapter b7: bAuditing bInternal bControl bover bFinancial bReporting
Chapter b8: bAudit bSampling: bAn bOverview band bApplication bto bTests bof bControls
Chapter b9: bAudit bSampling: bAn bApplication bto bSubstantive bTests bof bAccount bBalances
Chapter b10: bAuditing bthe bRevenue bProcess
Chapter b11: bAuditing bthe bPurchasing bProcess
Chapter b12: bAuditing bthe bHuman bResource bManagement bProcess
Chapter b13: bAuditing bthe bInventory bManagement bProcess
Chapter b14: bAuditing bthe bFinancing/Investing bProcess: bPrepaid bExpenses, bIntangible bAssets, band
bProperty, bPlant, band bEquipment
Chapter b15: bAuditing bthe bFinancing/Investing bProcess: bLong-Term bLiabilities, bStockholders’
bEquity, band bIncome bStatement bAccounts
Chapter b16: bAuditing bthe bFinancing/Investing bProcess: bCash band bInvestments
Chapter b17: bCompleting bthe bAudit bEngagement
Chapter b18: bReports bon bAudited bFinancial bStatements
Chapter b19: bProfessional bConduct, bIndependence, band bQuality bManagement
Chapter b20: bLegal bLiability
Chapter b21: bAssurance, bAttestation, band bInternal bAuditing bServices
, Auditing b& bAssurance bServices: bA bSystematic bApproach, b12e b(Messier)
bChapter b1 b An bIntroduction bto bAssurance band bFinancial bStatement bAuditing
1) Auditing bfocuses bon brules, btechniques, band bcomputations brequired bto bprepare band
banalyze bfinancial binformation.
ANSWER: b FALSE
bDifficulty: b1 bEasy
Topic: b The bImportance bfor bStudying bAuditing
Learning bObjective: b 01-01 bUnderstand bwhy bstudying bauditing bcan bbe bvaluable bto byou bwhether
bor bnot byou bplan bto bbecome ban bauditor, band bwhy bit bis bdifferent bfrom bstudying baccounting.
Bloom's: b Remember
bAACSB: b Communication
AICPA: b BB bLegal; bFN bDecision bMaking
2) Decision bmakers bdemand breliable binformation bthat bis bprovided bby baccountants.
ANSWER: b TRUE
bDifficulty: b1 bEasy
Topic: b The bDemand bfor bAuditing band bAssurance
Learning bObjective: b 01-02 bUnderstand bthe bdemand bfor bauditing band bbe bable bto bexplain bthe
bdesired bcharacteristics bof bauditors band baudit bservices bthrough ban banalogy bto ba bhouse
binspector band ba bhouse binspection bservice.
Bloom's: b Understand
bAACSB: b Communication
AICPA: b FN bDecision bMaking; bBB bIndustry
3) Information basymmetry bseldom boccurs.
ANSWER: b FALSE
bDifficulty: b2 bMedium
Topic: b The bDemand bfor bAuditing band bAssurance
Learning bObjective: b 01-02 bUnderstand bthe bdemand bfor bauditing band bbe bable bto bexplain bthe
bdesired bcharacteristics bof bauditors band baudit bservices bthrough ban banalogy bto ba bhouse
binspector band ba bhouse binspection bservice.
Bloom's: b Apply
AACSB: b Communication
AICPA: b BB bIndustry; bFN bReporting
b b b b b b b
Systematic Approach, 12th Edition
b b b b b
Chapters 1 - 21 Complete
b b b b
,
,Chapter b1: bAn bIntroduction bto bAssurance band bFinancial bStatement bAuditing
Chapter b2: bThe bFinancial bStatement bAuditing bEnvironment
Chapter b3: bAudit bPlanning, bTypes bof bAudit bTests, band bMateriality
Chapter b4: bRisk bAssessment
Chapter b5: bEvidence band bDocumentation
Chapter b6: bInternal bControl bin ba bFinancial bStatement bAudit
Chapter b7: bAuditing bInternal bControl bover bFinancial bReporting
Chapter b8: bAudit bSampling: bAn bOverview band bApplication bto bTests bof bControls
Chapter b9: bAudit bSampling: bAn bApplication bto bSubstantive bTests bof bAccount bBalances
Chapter b10: bAuditing bthe bRevenue bProcess
Chapter b11: bAuditing bthe bPurchasing bProcess
Chapter b12: bAuditing bthe bHuman bResource bManagement bProcess
Chapter b13: bAuditing bthe bInventory bManagement bProcess
Chapter b14: bAuditing bthe bFinancing/Investing bProcess: bPrepaid bExpenses, bIntangible bAssets, band
bProperty, bPlant, band bEquipment
Chapter b15: bAuditing bthe bFinancing/Investing bProcess: bLong-Term bLiabilities, bStockholders’
bEquity, band bIncome bStatement bAccounts
Chapter b16: bAuditing bthe bFinancing/Investing bProcess: bCash band bInvestments
Chapter b17: bCompleting bthe bAudit bEngagement
Chapter b18: bReports bon bAudited bFinancial bStatements
Chapter b19: bProfessional bConduct, bIndependence, band bQuality bManagement
Chapter b20: bLegal bLiability
Chapter b21: bAssurance, bAttestation, band bInternal bAuditing bServices
, Auditing b& bAssurance bServices: bA bSystematic bApproach, b12e b(Messier)
bChapter b1 b An bIntroduction bto bAssurance band bFinancial bStatement bAuditing
1) Auditing bfocuses bon brules, btechniques, band bcomputations brequired bto bprepare band
banalyze bfinancial binformation.
ANSWER: b FALSE
bDifficulty: b1 bEasy
Topic: b The bImportance bfor bStudying bAuditing
Learning bObjective: b 01-01 bUnderstand bwhy bstudying bauditing bcan bbe bvaluable bto byou bwhether
bor bnot byou bplan bto bbecome ban bauditor, band bwhy bit bis bdifferent bfrom bstudying baccounting.
Bloom's: b Remember
bAACSB: b Communication
AICPA: b BB bLegal; bFN bDecision bMaking
2) Decision bmakers bdemand breliable binformation bthat bis bprovided bby baccountants.
ANSWER: b TRUE
bDifficulty: b1 bEasy
Topic: b The bDemand bfor bAuditing band bAssurance
Learning bObjective: b 01-02 bUnderstand bthe bdemand bfor bauditing band bbe bable bto bexplain bthe
bdesired bcharacteristics bof bauditors band baudit bservices bthrough ban banalogy bto ba bhouse
binspector band ba bhouse binspection bservice.
Bloom's: b Understand
bAACSB: b Communication
AICPA: b FN bDecision bMaking; bBB bIndustry
3) Information basymmetry bseldom boccurs.
ANSWER: b FALSE
bDifficulty: b2 bMedium
Topic: b The bDemand bfor bAuditing band bAssurance
Learning bObjective: b 01-02 bUnderstand bthe bdemand bfor bauditing band bbe bable bto bexplain bthe
bdesired bcharacteristics bof bauditors band baudit bservices bthrough ban banalogy bto ba bhouse
binspector band ba bhouse binspection bservice.
Bloom's: b Apply
AACSB: b Communication
AICPA: b BB bIndustry; bFN bReporting
