100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Test Bank For Auditing & Assurance Services, 8th Edition ISBN10:Xb|ISBN13:9785 By Timothy Louwers,Penelope Bagley, Allen Blay, Jerry Strawser,Jay Thibodeau,David Sinason CA$30.77
Add to cart
Quickly navigate to
Preview
  2.  
  3. Auditing & Assurance Services,
  4.  
  5. Auditing & Assurance Services,

Exam (elaborations)

Test Bank For Auditing & Assurance Services, 8th Edition ISBN10:Xb|ISBN13:9785 By Timothy Louwers,Penelope Bagley, Allen Blay, Jerry Strawser,Jay Thibodeau,David Sinason

1 review
 6 views  0 purchase
  • Course
  • Auditing & Assurance Services,
  • Institution
  • Auditing & Assurance Services,
  • Book
  • Loose-Leaf for Auditing & Assurance Services

Test Bank For Auditing & Assurance Services, 8th Edition ISBN10:Xb|ISBN13:9785 By Timothy Louwers,Penelope Bagley, Allen Blay, Jerry Strawser,Jay Thibodeau,David Sinason

Preview 4 out of 306  pages

Document information

  • November 29, 2024
  • 306
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • test bank for auditing assurance services 8th e

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

Written for

  • Auditing & Assurance Services,
  • Auditing & Assurance Services,

1  review

review-writer-avatar

By: knoowy00785 • 1 week ago

Seller

avatar-seller
Verifiedtestbanks

Reviews received

Content preview

Full Test Bank For Auditing & Assurance Services, 8th Edition
b b b b b b b b b b




ISBN10: 126036920X | ISBN13: 9781260369205
b b b b b




By Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibod
b b b b b b b b b b


eau, David Sinason
b b b




MULTIPLEbCHOICEb-
bChoosebthebonebalternativebthatbbestbcompletesbthebstatementborbanswersbthebquestion.b


1) Thebauditbobjectivebthatballbtransactionsbandbaccountsbthatbshouldbbebpresentedbinbthebfinanc
ialbstatementsbarebinbfactbincludedbisbrelatedbtobwhichbofbthebPCAOBbassertions?
b b

A) Existence.b b


B) Rightsbandbobligations.b
C) Completeness.b
D) Valuation.b
b


b

2) Cutoffbtestsbdesignedbtobdetectbpurchasesbmadebbeforebthebendbofbthebyearbthatbhavebbeenbrec
ordedbinbthebsubsequentbyearbprovidebassurancebaboutbmanagement'sbassertionbof:
b b

A) presentationbandbdisclosure.b b


B) completeness.b
C) rightsbandbobligations.b
D) existence.b
b


b

3) Duringbanbauditbofbanbentity'sbstockholders'bequitybaccounts,bthebauditorbdeterminesbwhether
btherebarebrestrictions bonbretainedbearningsbresultingbfrombloans,bagreements,borbstateblaw.bT

hisbauditbprocedurebmostblikelybisbintendedbtobverifybmanagement'sbassertionbof:
b b

A) existenceborboccurrence.bb
B) completeness.b
C) valuationborballocation.b
D) presentationbandbdisclosure.b
b
b

4) Thebconfirmationbofbanbaccountbpayablebbalancebselectedbfrombthebgeneralbledgerbprovidesb
primarybevidencebregardingbwhichbmanagementbassertion?


Versionb1b b b b b b b b b b b 1b

, b b

A) Completeness.bb
B) Valuation.b
C) Allocation.b
D) Existence.b
b


b

5) Whatbtypebofbevidencebwouldbprovidebthebhighestblevelbofbassurancebinbanbattestationbengag
ement?
b b

A) Evidencebsecuredbsolelybfrombwithinbthebentity.b
B) Evidencebobtainedbfrombindependentbsources.b
C) Evidencebobtainedbindirectly.b
D) Evidencebobtainedbfrombmultiplebinternalbinquiries.b
b


b

6) Whichbofbthebfollowingbmanagementbassertionsbisbanbauditorbmostblikelybtestingbifbthebauditb
objectivebstatesbthatballbinventorybonbhandbisbreflectedbinbthebendingbinventorybbalance?
b b

A) Thebentitybhasbrightsbtobthebinventory.bb
B) Inventorybisbproperlybvalued.b
C) Inventorybisbproperlybpresentedbinbthebfinancialbstatements.b
D) Inventorybisbcomplete.b
b


b

7) Anbauditorbtracesbthebserialbnumbersbonbequipmentbtobabnonissuer'sbsub-
ledger.bWhichbofbthebfollowingbmanagementbassertionsbisbsupportedbbybthisbtest?
b b

A) Valuationbandballocation.b b


B) Completeness.b
C) Rightsbandbobligations.b
D) Presentationbandbdisclosure.b
b

8) Anbauditorbhasbsubstantialbdoubtbaboutbthebentity'sbabilitybtobcontinuebasbabgoingbconcernbfor
babreasonablebperiodbofbtimebbecausebofbnegativebcashbflowsbandbworkingbcapitalbdeficiencie

s.bUnderbthesebcircumstances,bthebauditorbwouldbbebmostbconcernedbaboutbthe:
b b

A) controlbenvironmentbfactorsbthatbaffectbtheborganizationalbstructure.b b


B) correlationbofbdetectionbriskbandbinherentbrisk.b
C) effectivenessbofbthebentity'sbinternalbcontrolbactivities.b
D) possiblebeffectsbonbthebentity'sbfinancialbstatements.b
b




Versionb1b b b b b b b b b b b 2b

, b

9) Whichbofbthebfollowingbtypesbofbauditbevidencebprovidesbthebbbleastbassurancebofbreliability?
b b

A) Receivablebconfirmationsbreceivedbfrombthebclient'sbcustomers.b b


B) Prenumberedbreceivingbreportsbcompletedbbybthebclient'sbemployees.b
C) Priorbmonths'bbankbstatementsbobtainedbfrombthebclient.b
D) Municipalbpropertybtaxbbillsbpreparedbinbthebclient'sbname.b
b


b

10) Whichbofbthebfollowingbisbabmanagementbassertionbregardingbaccountbbalancesbatbthebperiod
bend?


b b

A) Transactionsbandbeventsbthatbhavebbeenbrecordedbhaveboccurredbandbpertainbtobthebentity.bb
B) Transactionsbandbeventsbhavebbeenbrecordedbinbthebproperbaccounts.b
C) Thebentitybholdsborbcontrolsbthebrightsbtobassets,bandbliabilitiesbarebobligationsbofbthebentity.b
D) Amountsbandbotherbdatabrelatedbtobthebtransactionsbandbeventsbhavebbeenbrecordedbappropriate
ly.b
b


b

11) Abpractitionerbisbengagedbtobexpressbanbopinionbonbmanagement'sbassertionbthatbthebsquarebf
ootagebofbabwarehousebofferedbforbsalebisb150,000bsquarebfeet.bThebpractitionerbshouldbreferb
tobwhichbofbthebfollowingbsourcesbforbprofessionalbguidance?
b

A) StatementbofbAuditingbStandards.b b


B) StatementsbonbStandardsbforbAttestationbEngagements.b
C) StatementsbonbStandardsbforbAccountingbandbReviewbServices.b
D) StatementsbonbStandardsbforbConsultingbServices.b
b


b

12) Inbauditingbtheblong-
termbdebtbaccount,banbauditor'sbproceduresbmostblikelybwouldbfocusbprimarilybonbmanagem
ent'sbassertionbof:
b b

A) existence.b b


B) completeness.b
C) allocation.b
D) rightsbandbobligations.b
b


b

13) Anbauditorbselectedbitemsbforbtestbcountsbfrombthebclient'sbwarehousebduringbthebphysicalbin
ventorybobservation.bThebauditorbthenbtracedbthesebtestbcountsbintobthebdetailedbinventoryblis
tingbthatbultimatelybagreedbtobthebfinancialbstatements.bThisbprocedurebmostblikelybprovidedb
evidencebconcerningbmanagement'sbassertionbof:


Versionb1b b b b b b b b b b b 3b

, b b

A) completeness.b b
B) valuation.b
C) presentationbandbdisclosure.b
D) existence.b
E) rightsbandbobligations.b
b


b

14) Anbauditorbselectedbitemsbfrombthebclient'sbdetailedbinventoryblistingb(thatbagreedbtobthebfina
ncialbstatements).bDuringbthebphysicalbinventorybobservation,bthebauditorbthenbfoundbeachbit
embselectedbandbcountedbthebnumberbofbunitsbonbhand.bAssumingbthatbthebamountbonbhandb
wasbthebsamebasbthebamountbinbthebclient'sbdetailedbinventoryblisting,bthisbprocedurebmostblik
elybwouldbprovidebevidencebconcerningbmanagement'sbassertionbof:
b

A) completeness.b b
B) valuation.b
C) presentationbandbdisclosure.b
D) existence.b
E) rightsbandbobligations.b
b


b

15) AccordingbtobPCAOBbAuditingbStandardbNo.b2201b(bbASb2201),bthebauditorbshouldbidentifyb
significantbaccountsbandbdisclosuresbandbtheirbrelevantbassertions.bWhichbofbthebfollowingbfi
nancialbstatementbassertionsbisbbbnotbexplicitlybidentifiedbinbbbASb2201?
b b

A) Completeness.bb
B) Valuationborballocation.b
C) Accuracy.b
D) Existenceborboccurrence.b
E) AllbofbthesebarebassertionsbidentifiedbinbbbbASb2201.b
b


b

16) Whenbtestingbthebcompletenessbassertionbforbabliabilitybaccount,banbauditorbordinarilybworks
bfrombthe:



b b

A) financialbstatementsbtobthebpotentiallybunrecordedbitems.b b


B) potentiallybunrecordedbitemsbtobthebfinancialbstatements.b
C) accountingbrecordsbtobthebsupportingbevidence.b
D) trialbbalancebtobthebsubsidiarybledger.b
b


b




Versionb1b b b b b b b b b b b 4b

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Verifiedtestbanks. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$30.77. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

55939 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$30.77
  • (1)
Add to cart
Added