CPA Study guides, Class notes & Summaries

Habitatuion CPAC A*

Habitatuion CPAC A*

Gel electropheresis CPAC

CPAC Notes on plant fibres

Auditing & Assurance Services: A Systematic Approach, 11e (Messier) Chapter 3 Audit Planning, Types of Audit Tests, and Materiality 1) The first phase of audit planning is risk assessment. Answer: FALSE Difficulty: 1 Easy Topic: Client Acceptance and Continuance Learning Objective: 03-01 Understand the auditor's requirements for client acceptance and continuance. Bloom's: Remember AACSB: Analytical Thinking AICPA: BB Industry; FN Risk Analysis 2) When the prospective client has previo...

Auditing & Assurance Services, 7e (Louwers) Chapter 2 Professional Standards 1) Control risk is A) the probability that a material misstatement could not be prevented or detected by the entity's internal control policies and procedures. B) the probability that a material misstatement could occur and not be detected by auditors' procedures. C) the risk that auditors will not be able to complete the audit on a timely basis. D) the risk that auditors will not properly control the staff on th...

Chapter 03 - Auditors' Ethical and Legal Responsibilities Multiple Choice Questions Chapter 03 Auditors' Ethical and Legal Responsibilities 1. An auditor's responsibility to society can be divided into which three categories? A. Moral, professional, and fiscal. B. Moral, professional, and legal. C. Fiduciary, professional, and legal. D. Moral, spiritual, and legal Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 03-01 Outline the concept of au...

TRUE/FALSE 1. The accounting profession has been regulated by Congress since the 1880s when it became clear that accounting was an important instrument in America for conducting business. ANSWER: F 2. The SEC was created by Congress to replace the AICPA’s standard-setting group. ANSWER: F 3. The SEC is legally empowered to regulate accounting principles. ANSWER: T 4. Most of the responsibility for establishing accounting principles has remained with the private sector ...

Chapter 01 - Business Decisions and Financial Accounting True / False Questions Chapter 01 Business Decisions and Financial Accounting 1. Building a new warehouse is an operating activity. TRUE Blooms: Understand Accessibility: Keyboard Navigation Difficulty: Easy Learning Objective: 01-02 Describe the purpose; structure; and content of the four basic financial statements. Topic: 01-15 The Statement of Cash Flows 2. The payment of dividends is a financing activity. TRUE Blooms: Unders...