Test Bank for Auditing: A Risk Based-Approach 12th Edition by Karla M. Zehms and Larry E. Rittenberg ISBN;9780357721872 All Chapters 1-15 Fully Covered Complete Guide A+.

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Auditing: A Risk-Based Approach 12th Edition by Karla Johnstone-Zehms
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FULL TEST BANK!!!
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,Test Bank for Auditing: A Risk Based-Approach 12th Edition by Larry E. Rittenberg
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Karla M. Zehms $th $th $th




Chapter 01 $th




1. The need for independent assurance arises because the interests of the users of information may be
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different from the interests of those responsible for providing information.
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a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False $th $th $th




HAS VARIABLES:
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False
LEARNING OBJECTIVES: AUD.ZEHMS.24.01.01 - Define financial statement auditing in relation to decision
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makers’ demands for reliable financial and internal control information $th $th $th $th $th $th $th $th $th




NATIONAL STANDARDS: United States - BUSPROG: Comprehension
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STATE STANDARDS:
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United States - AK - AICPA BB-Critical
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thinking DATE CREATED: 5/26/2023 4:48 AM
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DATE MODIFIED: $th
5/26/2023 4:49 AM $th $th




2. A financial statement audit is a systematic process of objectively obtaining and evaluating evidence.
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a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False $th $th $th




HAS VARIABLES:
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False
LEARNING OBJECTIVES: AUD.ZEHMS.24.01.01 - Define financial statement auditing in relation to decision
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makers’ demands for reliable financial and internal control information $th $th $th $th $th $th $th $th $th




NATIONAL STANDARDS: United States - BUSPROG: Comprehension
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STATE STANDARDS:
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United States - AK - AICPA BB-Critical
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thinking DATE CREATED: 5/26/2023 4:59 AM
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DATE MODIFIED: $th
5/26/2023 5:00 AM $th $th




3. A bank using Milton Company's financial statements to evaluate Milton’s loan application is an example of
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a user’s need for unbiased reporting.
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a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False $th $th $th




HAS VARIABLES:
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False
LEARNING OBJECTIVES: AUD.ZEHMS.24.01.01 - Define financial statement auditing in relation to decision
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makers’ demands for reliable financial and internal control information $th $th $th $th $th $th $th $th $th




NATIONAL STANDARDS: United States - BUSPROG: Comprehension
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STATE STANDARDS:
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United States - AK - AICPA BB-Critical
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thinking DATE CREATED: 5/26/2023 5:01 AM
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,DATE MODIFIED:
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5/26/2023 5:02 AM
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4. An integrated audit requires the auditor to assess the effectiveness of internal controls.
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, Chapter 01$th




a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: AUD.ZEHMS.24.01.01 - Define financial statement auditing in relation to decision makers’
demands for reliable financial and internal control information
NATIONAL STANDARDS: United States - BUSPROG: Comprehension
STATE STANDARDS: United States - AK - AICPA BB-Critical thinking
DATE CREATED: 5/26/2023 5:02 AM
DATE MODIFIED: 5/26/2023 5:03 AM

5. Auditors obtain and evaluate evidence regarding assertions about economic actions and events to verify the
accuracy of those assertions.
a. True
b. False
ANSWER: False
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: AUD.ZEHMS.24.01.01 - Define financial statement auditing in relation to decision makers’
demands for reliable financial and internal control information
NATIONAL STANDARDS: United States - BUSPROG: Comprehension
STATE STANDARDS: United States - AK - AICPA BB-Critical thinking
DATE CREATED: 5/26/2023 5:03 AM
DATE MODIFIED: 5/26/2023 5:04 AM

6. Auditing is the process of verifying and assuring the complete accuracy of the financial statements.
a. True
b. False
ANSWER: False
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: AUD.ZEHMS.24.01.01 - Define financial statement auditing in relation to decision makers’
demands for reliable financial and internal control information
NATIONAL STANDARDS: United States - BUSPROG: Comprehension
STATE STANDARDS: United States - AK - AICPA BB-Critical thinking
DATE CREATED: 5/26/2023 5:04 AM
DATE MODIFIED: 5/26/2023 5:05 AM

7. Management may have incentives to present biased financial information, but the various users of the
statements are likely to have the same interest in the financial information.
a.
True
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