TEST BANK FOR AUDITING & ASSURANCE SERVICE
H H H H H H
S 9TH EDITION BY TIMOTHY LOUWERS, JERRY STR
H H H H H H H
AWSER FULL TESTBANK ALL CHAPTERS INCLUDED
H H H H H
|| LATEST AND COMPLETE UPDATE 2025 WITH VERI
H H H H H H H
FIED SOLUTIONS GRADED A+
H H H
,1H|HPH aH gH e
TEST BANK FOR AUDITING & ASSURANCE SERVICE
H H H H H H
S 9TH EDITION BY TIMOTHY LOUWERS, JERRY STR
H H H H H H H
AWSER FULL TESTBANK ALL CHAPTERS INCLUDED
H H H H H
|| LATEST AND COMPLETE UPDATE 2025 WITH VERI
H H H H H H H
FIED SOLUTIONS GRADED A+
H H H
HAnswers key Included at the end of every chapter
H H H H H H H H H
Chapter 01 H
1) TheHauditHobjectiveHthatHallHtransactionsHandHaccountsHthatHshouldHbeHpresentedHinHt
heHfinancialHstatementsHareHinHfactHincludedHisHrelatedHtoHwhichHofHtheHPCAOBHassertions?
A) Existence
B) RightsHandHobligations
C) Completeness
D) Valuation
2) CutoffHtestsHdesignedHtoHdetectHpurchasesHmadeHbeforeHtheHendHofHtheHyearHthatHhaveHbe
enHrecordedHinHtheHsubsequentHyearHprovideHassuranceHaboutHmanagement'sHassertionHof
A) presentationHandHdisclosure.
B) completeness.
C) rightsHandHobligations.
D) existence.
3) DuringHanHauditHofHanHentity'sHstockholders'HequityHaccounts,HtheHauditorHdeterminesHwhe
therHthereHareHrestrictionsHonHretainedHearningsHresultingHfromHloans,Hagreements,HorHstateHlaw.HT
hisHauditHprocedureHmostHlikelyHisHintendedHtoHverifyHmanagement'sHassertionHof
A) existenceHorHoccurrence.
B) completeness.
C) valuationHorHallocation.
,2H|HPH aH gH e
D) presentationHandHdisclosure.
4) TheHconfirmationHofHanHaccountHpayableHbalanceHselectedHfromHtheHgeneralHledg
erHprovidesHprimaryHevidenceHregardingHwhichHmanagementHassertion?
A) Completeness
B) Valuation
C) Allocation
D) Existence
5) WhatHtypeHofHevidenceHwouldHprovideHtheHhighestHlevelHofHassuranceHinHanHattestatio
nHengagement?
A) EvidenceHsecuredHsolelyHfromHwithinHtheHentity.
B) EvidenceHobtainedHfromHindependentHsources.
C) EvidenceHobtainedHindirectly.
D) EvidenceHobtainedHfromHmultipleHinternalHinquiries.
6) WhichHofHtheHfollowingHmanagementHassertionsHisHanHauditorHmostHlikelyHtestingHifHt
heHauditHobjectiveHstatesHthatHallHinventoryHonHhandHisHreflectedHinHtheHendingHinventoryHbala
nce?
A) TheHentityHhasHrightsHtoHtheHinventory.
B) InventoryHisHproperlyHvalued.
C) InventoryHisHproperlyHpresentedHinHtheHfinancialHstatements.
D) InventoryHisHcomplete.
7) AnHauditorHtracesHtheHserialHnumbersHonHequipmentHtoHaHnonissuer'sHsubledger.HWhichH
ofHtheHfollowingHmanagementHassertionsHisHsupportedHbyHthisHtest?
A) ValuationHandHallocation
B) Completeness
, 3H|HPH aH gH e
C) RightsHandHobligations
D) PresentationHandHdisclosure
8) AnHauditorHhasHsubstantialHdoubtHaboutHtheHentity'sHabilityHtoHcontinueHasHaHgoingHconce
rnHforHaHreasonableHperiodHofHtimeHbecauseHofHnegativeHcashHflowsHandHworkingHcapitalHdeficien
cies.HUnderHtheseHcircumstances,HtheHauditorHwouldHbeHmostHconcernedHaboutHthe
A) controlHenvironmentHfactorsHthatHaffectHtheHorganizationalHstructure.
B) correlationHofHdetectionHriskHandHinherentHrisk.
C) effectivenessHofHtheHentity'sHinternalHcontrolHactivities.
D) possibleHeffectsHonHtheHentity'sHfinancialHstatements.
9) WhichHofHtheHfollowingHtypesHofHauditHevidenceHprovidesHtheleastHassuranceHofHreliability?
A) ReceivableHconfirmationsHreceivedHfromHtheHclient'sHcustomers.
B) PrenumberedHreceivingHreportsHcompletedHbyHtheHclient'sHemployees.
C) PriorHmonths'HbankHstatementsHobtainedHfromHtheHclient.
D) MunicipalHpropertyHtaxHbillsHpreparedHinHtheHclient'sHname.
10) WhichHofHtheHfollowingHisHaHmanagementHassertionHregardingHaccountHbalancesHatHth
eHperiodHend?
A) TransactionsHandHeventsHthatHhaveHbeenHrecordedHhaveHoccurredHandHpertainHtoHtheHentity.
B) TransactionsHandHeventsHhaveHbeenHrecordedHinHtheHproperHaccounts.
C) TheHentityHholdsHorHcontrolsHtheHrightsHtoHassets,HandHliabilitiesHareHobligationsHofHt
heHentity.
D) AmountsHandHotherHdataHrelatedHtoHtheHtransactionsHandHeventsHhaveHbeenHrecorde
dHappropriately.
H H H H H H
S 9TH EDITION BY TIMOTHY LOUWERS, JERRY STR
H H H H H H H
AWSER FULL TESTBANK ALL CHAPTERS INCLUDED
H H H H H
|| LATEST AND COMPLETE UPDATE 2025 WITH VERI
H H H H H H H
FIED SOLUTIONS GRADED A+
H H H
,1H|HPH aH gH e
TEST BANK FOR AUDITING & ASSURANCE SERVICE
H H H H H H
S 9TH EDITION BY TIMOTHY LOUWERS, JERRY STR
H H H H H H H
AWSER FULL TESTBANK ALL CHAPTERS INCLUDED
H H H H H
|| LATEST AND COMPLETE UPDATE 2025 WITH VERI
H H H H H H H
FIED SOLUTIONS GRADED A+
H H H
HAnswers key Included at the end of every chapter
H H H H H H H H H
Chapter 01 H
1) TheHauditHobjectiveHthatHallHtransactionsHandHaccountsHthatHshouldHbeHpresentedHinHt
heHfinancialHstatementsHareHinHfactHincludedHisHrelatedHtoHwhichHofHtheHPCAOBHassertions?
A) Existence
B) RightsHandHobligations
C) Completeness
D) Valuation
2) CutoffHtestsHdesignedHtoHdetectHpurchasesHmadeHbeforeHtheHendHofHtheHyearHthatHhaveHbe
enHrecordedHinHtheHsubsequentHyearHprovideHassuranceHaboutHmanagement'sHassertionHof
A) presentationHandHdisclosure.
B) completeness.
C) rightsHandHobligations.
D) existence.
3) DuringHanHauditHofHanHentity'sHstockholders'HequityHaccounts,HtheHauditorHdeterminesHwhe
therHthereHareHrestrictionsHonHretainedHearningsHresultingHfromHloans,Hagreements,HorHstateHlaw.HT
hisHauditHprocedureHmostHlikelyHisHintendedHtoHverifyHmanagement'sHassertionHof
A) existenceHorHoccurrence.
B) completeness.
C) valuationHorHallocation.
,2H|HPH aH gH e
D) presentationHandHdisclosure.
4) TheHconfirmationHofHanHaccountHpayableHbalanceHselectedHfromHtheHgeneralHledg
erHprovidesHprimaryHevidenceHregardingHwhichHmanagementHassertion?
A) Completeness
B) Valuation
C) Allocation
D) Existence
5) WhatHtypeHofHevidenceHwouldHprovideHtheHhighestHlevelHofHassuranceHinHanHattestatio
nHengagement?
A) EvidenceHsecuredHsolelyHfromHwithinHtheHentity.
B) EvidenceHobtainedHfromHindependentHsources.
C) EvidenceHobtainedHindirectly.
D) EvidenceHobtainedHfromHmultipleHinternalHinquiries.
6) WhichHofHtheHfollowingHmanagementHassertionsHisHanHauditorHmostHlikelyHtestingHifHt
heHauditHobjectiveHstatesHthatHallHinventoryHonHhandHisHreflectedHinHtheHendingHinventoryHbala
nce?
A) TheHentityHhasHrightsHtoHtheHinventory.
B) InventoryHisHproperlyHvalued.
C) InventoryHisHproperlyHpresentedHinHtheHfinancialHstatements.
D) InventoryHisHcomplete.
7) AnHauditorHtracesHtheHserialHnumbersHonHequipmentHtoHaHnonissuer'sHsubledger.HWhichH
ofHtheHfollowingHmanagementHassertionsHisHsupportedHbyHthisHtest?
A) ValuationHandHallocation
B) Completeness
, 3H|HPH aH gH e
C) RightsHandHobligations
D) PresentationHandHdisclosure
8) AnHauditorHhasHsubstantialHdoubtHaboutHtheHentity'sHabilityHtoHcontinueHasHaHgoingHconce
rnHforHaHreasonableHperiodHofHtimeHbecauseHofHnegativeHcashHflowsHandHworkingHcapitalHdeficien
cies.HUnderHtheseHcircumstances,HtheHauditorHwouldHbeHmostHconcernedHaboutHthe
A) controlHenvironmentHfactorsHthatHaffectHtheHorganizationalHstructure.
B) correlationHofHdetectionHriskHandHinherentHrisk.
C) effectivenessHofHtheHentity'sHinternalHcontrolHactivities.
D) possibleHeffectsHonHtheHentity'sHfinancialHstatements.
9) WhichHofHtheHfollowingHtypesHofHauditHevidenceHprovidesHtheleastHassuranceHofHreliability?
A) ReceivableHconfirmationsHreceivedHfromHtheHclient'sHcustomers.
B) PrenumberedHreceivingHreportsHcompletedHbyHtheHclient'sHemployees.
C) PriorHmonths'HbankHstatementsHobtainedHfromHtheHclient.
D) MunicipalHpropertyHtaxHbillsHpreparedHinHtheHclient'sHname.
10) WhichHofHtheHfollowingHisHaHmanagementHassertionHregardingHaccountHbalancesHatHth
eHperiodHend?
A) TransactionsHandHeventsHthatHhaveHbeenHrecordedHhaveHoccurredHandHpertainHtoHtheHentity.
B) TransactionsHandHeventsHhaveHbeenHrecordedHinHtheHproperHaccounts.
C) TheHentityHholdsHorHcontrolsHtheHrightsHtoHassets,HandHliabilitiesHareHobligationsHofHt
heHentity.
D) AmountsHandHotherHdataHrelatedHtoHtheHtransactionsHandHeventsHhaveHbeenHrecorde
dHappropriately.
