D215 auditing - Study guides, Class notes & Summaries

(WGU D215) ACCT 3340 - Auditing - Final Assessment Guide (WGU D215) ACCT 3340 - Auditing - Final Assessment Guide (WGU D215) ACCT 3340 - Auditing - Final Assessment Guide

D215 Auditing, Pre-Assessment PA

WGU D215 AUDITING QUESTIONS AND ANSWERS

D215 AUDITING WGU ALL CHAPTER QUESTIONS AND ANSWERS

D215 AUDITING, PRE-ASSESMENT PA QUESTIONS AND ANSWERS

1. Which type of work performed by a CPA is an attestation service? Risk advisory Website security assurance Data integrity Financial statement review - ANSWER-Financial statement review 2. Which entity may obtain audited financial statements to ensure a company is complying with industry regulations? Lenders Consumers Governments General public - ANSWER-Governments 3. Which group performs an audit and review of financial statements to ensure financial statement users' nee...

Ability of cash flow from operations to cover current debt and dividends - ANSWER-Measures ability to cover current debt maturities and dividends with operating cash flow. Accounting estimate - ANSWER-An approximation of a monetary amount when a precise means of measurement is not available. Accounting records - ANSWER-Client's records of the initial accounting entry and supporting documents. Acid-test (quick) ratio - ANSWER-Measures ability to meet short-term obligations with liquid a...

What is the objective of a financial statement audit? - Provide financial statement users with an opinion by the auditor on whether the financial statements are presented fairly in accordance with an applicable financial reporting framework Who are intended users of assurance services? - Decision makers ie Investors Creditors Regulators What does "independent" mean in the context of assurance services? - The person performing the service is not involved with the creation of the infor...

Ability of cash flow from operations to cover current debt and dividends Measures ability to cover current debt maturities and dividends with operating cash flow. Accounting estimate An approximation of a monetary amount when a precise means of measurement is not available. Accounting records Client's records of the initial accounting entry and supporting documents. Acid-test (quick) ratio Measures ability to meet short-term obligations with liquid assets such as cash, ...

(WGU D215) ACCT 3340 AUDITING FIN(WGU D215) ACCT 3340 AUDITING FINAL EXAM REVIEW Q & A 2024(WGU D215) ACCT 3340 AUDITING FINAL EXAM REVIEW Q & A 2024AL EXAM REVIEW Q & A 2024