Question Details

ACC 403 QUIZ 1
•  Question 1 
Which of the following is considered audit evidence?
			
•  Question 2 
Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called:

			
•  Question 3 
The three requirements for becoming a CPA include all but which of the following?

			
•  Question 4 
An accountant:

			
•  Question 5 
Three common types of attestation services are:

			
•  Question 6 
	Which of the following services provides the lowest level of assurance on a financial statement?

			
•  Question 7 
 	An examination of part of an organization's procedures and methods for the purpose of evaluating efficiency and effectiveness is what type of audit?

			
•  Question 8 
An audit to determine whether an entity is following specific procedures or rules set down by some higher authority is classified as a(n):

			
•  Question 9 
________ risk reflects the possibility that the information upon which the business decision was made was inaccurate.

			
•  Question 10 
The use of the Certified Public Accountant title is regulated by:

			
•  Question 11 
A correct relationship among the auditor, the client, and the external users is:

			
•  Question 12 
One objective of an operational audit is to:

			
•  Question 13 
Any service that requires a CPA firm to issue a report about the reliability of an assertion that is made by another party is a(n):

			
•  Question 14 
In "auditing" financial accounting data, the primary concern is with:

			
•  Question 15 
The Sarbanes-Oxley Act applies to which of the following companies?

			
•  Question 16 
The Public Company Accounting Oversight Board:

			
•  Question 17 
Members of the Public Company Accounting Oversight Board are appointed and overseen by:

			
•  Question 18 
Which of the following is an element of the CPA's quality control system that should be considered in establishing its quality control policies and procedures?
			
•  Question 19 
Within the context of quality control, the primary purpose of continuing professional education and training activities is to enable a CPA firm to provide its personnel with:

			
•  Question 20 
The form that must be completed and filed with the Securities and Exchange Commission whenever a company experiences a significant event that is of interest to public investors is the:

			
•  Question 21 
Which of the following statements best describes the primary purpose of Statements on Auditing Standards?

			
•  Question 22 
To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, the auditor must fulfill several performance responsibilities, including:

			
•  Question 23 
The AICPA has authority to establish standards and rules in all but which of the following areas?

			
•  Question 24 
Standards issued by the Public Company Accounting Oversight Board must be followed by CPAs who audit:

			
•  Question 25 
In order to properly plan and perform an audit, an important fact for both the auditor and the client to understand is that:
.
			
•  Question 26 
Statements on Standards for Accounting and Review Services are issued by the:

			
•  Question 27 
The International Standards on Auditing (ISAs):

•  Question 28 
The "Principles Underlying an Audit in Accordance with Generally Accepted Auditing Principles" provides a framework to help auditors:

			
•  Question 29 
The purpose of establishing quality control policies and procedures to accept or continue a client relationship is to:

			
•  Question 30 
Assume the Public Company Accounting Oversight Board (PCAOB) identifies a violation during its inspection of a registered accounting firm. The PCAOB:

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