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TEST BANK For Auditing & Assurance Services: A Systematic Approach, 11th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version $16.49   Add to cart

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TEST BANK For Auditing & Assurance Services: A Systematic Approach, 11th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version

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  • Auditing And Assurance Services, 11th Edition

TEST BANK For Auditing & Assurance Services: A Systematic Approach, 11th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version TEST BANK For Auditing & Assurance Services: A Systematic Approach, 11th Edition By William Messier Jr, Steven Glover, Verified Ch...

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  • October 1, 2024
  • 1415
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • 9781260687637
  • auditing
  • assurance services
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  • Auditing and Assurance Services, 11th Edition
  • Auditing and Assurance Services, 11th Edition
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Auditing & Assurance Services
Q Q Q




TEST BANK

Auditing & Assurance Services: A Systematic
Approach, 11th Edition Chapters 1 - 21

,Auditing & Assurance Services
Q Q Q




ChapterQ1:QAnQIntroductionQtoQAssuranceQandQFinancialQStatementQAuditing

ChapterQ2:QTheQFinancialQStatementQAuditingQEnvironment

ChapterQ3:QAuditQPlanning,QTypesQofQAuditQTests,QandQMateriality

ChapterQ4:QRiskQAssessment

ChapterQ5:QEvidenceQandQDocumentation

ChapterQ6:QInternalQControlQinQaQFinancialQStatementQAudit

ChapterQ7:QAuditingQInternalQControlQoverQFinancialQReporting

ChapterQ8:QAuditQSampling:QAnQOverviewQandQApplicationQtoQTestsQofQControls

ChapterQ9:QAuditQSampling:QAnQApplicationQtoQSubstantiveQTestsQofQAccountQBalances

ChapterQ10:QAuditingQtheQRevenueQProcess

ChapterQ11:QAuditingQtheQPurchasingQProcess

ChapterQ12:QAuditingQtheQHumanQResourceQManagementQProcess

ChapterQ13:QAuditingQtheQInventoryQManagementQProcess

ChapterQ14:QAuditingQtheQFinancing/InvestingQProcess:QPrepaidQExpenses,QIntangibleQAssets,
QandQProperty,QPlant,QandQEquipment



ChapterQ15:QAuditingQtheQFinancing/InvestingQProcess:QLong-
TermQLiabilities,QStockholders’QEquity,QandQIncomeQStatementQAccounts

ChapterQ16:QAuditingQtheQFinancing/InvestingQProcess:QCashQandQInvestments

ChapterQ17:QCompletingQtheQAuditQEngagement

ChapterQ18:QReportsQonQAuditedQFinancialQStatements

ChapterQ19:QProfessionalQConduct,QIndependence,QandQQualityQManagement

ChapterQ20:QLegalQLiability

ChapterQ21:QAssurance,QAttestation,QandQInternalQAuditingQServices

,Auditing & Assurance Services
Q Q Q




ChapterQ 01Q

AnQ IntroductionQ toQ AssuranceQ andQ FinancialQ StatementQ Auditing


TrueQ /Q FalseQ Questions


1. IndependenceQ standards Q areQ requiredQforQ auditsQ ofQ publicQ companies,Q butQ notQ forQ aud
itsQofQprivateQcompanies.

True False

2. DecisionQ makersQ demandQ reliableQ informationQ thatQ isQ providedQ byQ accountants.

True False

3. InformationQ asymmetry Q seldomQ occurs.

True False

4. ConflictsQ ofQ interestQ oftenQ occurQ betweenQ absenteeQ ownersQ andQ managers.

True False

5. AuditingQ servicesQ andQ attestationQ servicesQ areQ theQ same.

True False

6. AuditingQisQaQtypeQofQattestQservice.

True False

7. TestingQallQtransactionsQthatQoccurredQduringQ theQperiodQisQcostQprohibitive.

True False




MultipleQ ChoiceQ Questions

, Auditing & Assurance Services
Q Q Q




8. WhyQdoQauditorsQgenerallyQuseQaQsamplingQapproachQtoQevidenceQgathering?


A. AuditorsQ areQexpertsQ andQdoQnotQneedQtoQlookQatQmuchQtoQknowQwhetherQtheQfinan
cialQstatementsQareQcorrectQorQnot.
B. AuditorsQ mustQbalanceQtheQcostQofQtheQauditQwithQtheQneedQ
forQprecision.
C. AuditorsQmustQlimitQtheirQexposureQtoQtheirQauditeeQtoQmainta
inQindependence.
D. TheQauditor'sQrelationshipQwithQtheQauditeeQisQgenerallyQadversarial,QsoQtheQauditorQ
willQnotQhaveQaccessQtoQallQofQtheQfinancialQinformationQofQtheQcompany.

9. WhichQ ofQ theQ followingQ statementsQ bestQ describes Q aQ relationshipQ betweenQ sampleQ sizeQ a
ndQotherQelementsQofQauditing?


A. IfQ materialityQ increases,Q soQ willQ th
eQsampleQsize.
B. IfQ theQ desiredQ levelQ ofQ assuranceQ increases,Q sampleQ sizesQ canQ
beQsmaller.
C. IfQmateriality Qdecreases,QsampleQsizeQwillQneedQ
toQincrease.
D. ThereQisQnoQrelationshipQ betweenQsampleQsizeQ andQ materialityQorQtheQdesiredQle
velQofQassurance.

10. WhichQ ofQtheQ followingQ statementsQ aboutQ theQ studyQ ofQ auditingQ isQ NOTQ true?


A. TheQ studyQ ofQ auditingQ canQ beQ valuableQ toQ futureQ accountants Q andQ businessQ decisi
onQmakersQwhetherQorQnotQtheyQplanQtoQbecome Qauditors.
B. TheQ studyQ ofQ auditingQ focusesQ onQ learningQ theQ analyticalQ andQ logicalQ skillsQ necessary
Q toQ
evaluateQtheQrelevanceQandQreliabilityQofQinformation.
C. TheQ studyQ ofQ auditingQ focusesQ onQ learningQ theQ rules,Q techniques,Q andQ computatio
nsQrequiredQtoQanalyzeQfinancialQstatements.
D. TheQ studyQ ofQ auditingQ beginsQ withQtheQ understandingQ ofQ aQ coherentQ logicalQ framewo
rkQandQtechniquesQusefulQforQgatheringQandQanalyzingQevidenceQaboutQothers'Qassert
ions.

11. TheQbasicQpurposeQofQaQfinancialQstatementQauditQisQto


A. Detect
fraud.
Q

B. ExamineQ individualQ transactions Q soQ thatQ theQ auditorQ mayQ certifyQ asQ
toQtheirQvalidity.
C. ProvideQ assuranceQ regardingQ whetherQ theQ auditee'sQ financialQ statementsQ a
reQfairlyQstated.
D. AssureQ theQ consistentQ applicationQ ofQ correctQ accountin
gQprocedures.

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