CAS1501 Assignment 2 Due 9 April 2024

1. CAS1501-24-S1-81T
2. Welcome message
3. Assessment 2 - 724171



QUIZ

Assessment 2 - 724171
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Started on Tuesday, 9 April 2024, 3:11 AM
State Finished
Completed on Tuesday, 9 April 2024, 4:21 AM
Time taken 1 hour 10 mins
Marks 42.00/50.00
Grade 84.00 out of 100.00
Question 1
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Question text
The external auditor reports whether the audited financial statements are ____.


a.
Reasonable

b.
Complete

c.
Accurate

d.
Valid

e.
Timely




Question 2
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Question text
Annual financial statements are an agency cost which addresses ____.


a.
Data about the economic activity of the entity and owners

, b.
Profits and losses of the entity and owners

c.
Statements of financial performance and financial position to the owners

d.
Information asymmetry between management and owners

e.
Accounting policies and capital reported by management to owners
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Question 3
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Question text
A moral obligation can be described as _____.


a.
Legal protection when innocent

b.
Willingness to support political allies

c.
Rights to charge fair prices

d.
Rules to make maximum profits

e.
An unwritten rule aimed at doing good to society
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Question 4
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Question text
Control activities do not include ____.


a.
Independent checks by a second person

b.
Locking gates