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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 R382,84   Add to cart
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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

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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

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  • November 29, 2024
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  • 2024/2025
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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

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