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
Ethical Obligations And Decision Making in Accounting Text and Cases 4th Edition by Steven M Mintz Chair Test Bank R231,82   Add to cart
Quickly navigate to
Preview
  2.  
  3. Harvard University
  4.  
  5. Accounting (ACCOUNTING)

Exam (elaborations)

Ethical Obligations And Decision Making in Accounting Text and Cases 4th Edition by Steven M Mintz Chair Test Bank
 14 views  0 purchase
  • Course
  • Accounting (ACCOUNTING)
  • Institution
  • Harvard University
  • Book
  • Ethical Obligations and Decision-Making in Accounting: Text and Cases

Ethical Obligations And Decision Making in Accounting Text and Cases 4th Edition by Steven M Mintz Chair Test Bank

Preview 4 out of 157  pages

Document information

  • March 16, 2022
  • 157
  • 2021/2022
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ethical obligations and decision making in accounting text and cases 4th edition by steven m mintz chair test bank

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

  • Test Bank to Accompany Ethical Obligations and Decision Making in Accounting,Mintz,4e
  • Revolutionize Your Studying with the [Ethical Obligations and Decision Making in Accounting,Mintz,4e] 2023-2024 Test Bank
  • Ethical Obligations and Decision Making in Accounting, Mintz - Exam Preparation Test Bank (Downloadable Doc)
All for this textbook (9)

Written for

  • Harvard University
  • Accounting (ACCOUNTING)
All documents for this subject (8)

Seller

avatar-seller
PaulMarks

Reviews received

Content preview

Ethical Obligations And Decision Making in
Accounting Text and Cases 4th Edition by
Steven M Mintz Chair Test Bank

Description
INSTANT DOWNLOAD WITH ANSWERS
Ethical Obligations And Decision Making in Accounting
Text and Cases 4th Edition by Steven M Mintz Chair –
Test Bank
Chapter 06

Legal, Regulatory, and Professional Obligations of Auditors



Multiple Choice Questions

The key element that protects an auditor against common law liability is:

A. Adherence to generally accepted accounting principles (GAAP)
1.


B. Adherence to generally accepted auditing standards (GAAS)

, C. Compliance with threats and safeguards approach




D. Maintain confidentiality of client information




Which of the following is NOT one of the four stages in an audit-related dispute?

A. Events arise that create losses for the users of the financial statements




B. Losses are linked to material misstatements of financial statements
2.


C. Legal process resolves the dispute




D. Auditors legal liability leads to financial settlement




Which of the following would normally be considered sufficient to demonstrate due care on the
part of the auditor?

A. The auditor had its work reviewed by another audit firm



3.
B. The auditor cites adherence to generally accepted auditing standards (GAAS)




C. No omissions or misstatements have been found in the client’s financial statements

, D. The auditor signs a statement expressing its unmodified opinion as to the fairness of the
financial statements




In the U.S., if the auditor can demonstrate having performed services with the same degree of skill
and judgment possessed by others in the profession, it can be said to have exercised:

A. Prudence




B. Scienter
4.



C. Nonfeasance




D. Due Care




The legal precedent that evolves from legal opinions issued by judges in deciding a case and guides
judges in deciding similar cases in the future is referred to as:

A. Business law



5.
B. Tort law




C. Common law

, D. Statutory law




A privity relationship means that:

A. A party may be a user of the financial statements




B. A party may sue if fraud has taken place
6.


C. A party’s financial liability is limited




D. A party has a contractual obligation




7. The Ultramares v. Touche case of 1933 held that a cause of action based on negligence could not be
maintained by a third party who was not in contractual privity; however, it did leave open the
possibility that:

A. Third parties that were “foreseeable” may sue for ordinary negligence




B. Third parties may sue if one of the parties in contractual privity allowed it to




C. Third parties may sue in the case of fraud or constructive fraud

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 EFT, 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 this summary from?

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

Will I be stuck with a subscription?

No, you only buy this summary for R231,82. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

66579 documents were sold in the last 30 days

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

Start selling
R231,82
  • (0)
  Buy now