欢迎访问24帧网!

Auditing & Assurance Services 7th Edition by Timothy Louwers Test bank

分享 时间: 加入收藏 我要投稿 点赞

Source: Original
Topic: Management's Financial Statement Assertions
   
41. Which of the following is not an ASB assertion about inventory related to presentation and disclosure? 
 


 
A.  Inventory is properly classified as a current asset on the balance sheet.
 
B.  Inventory is properly stated at cost on the balance sheet.
 
C.  Major inventory categories and their valuation bases are adequately disclosed in notes.
 
D.  All of these are ASB presentation and disclosure assertions about inventory.
 
AACSB: Analytic
AICPA: BB Legal
AICPA: FN Research
Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 01-03 Describe and define the assertions that management makes about the recognition; measurement; presentation; and disclosure of the financial statements and explain why auditors use them as the focal point of the audit.
Source: Original
Topic: Management's Financial Statement Assertions
 
 
42. In performing an attestation engagement, a CPA typically 
 


 
A.  supplies litigation support services.
 
B.  assesses control risk at a low level.
 
C.  expresses a conclusion on an assertion about some type of subject matter.
 
D.  provides management consulting advice.
 
AACSB: Analytic
AICPA: BB Legal
AICPA: FN Research
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 2 Medium
Learning Objective: 01-02 Define and contrast financial statement auditing; attestation; and assurance services.
Source: AICPA
Topic: Auditing, Attestation, and Assurance Services
 
 
43. An attestation engagement is one in which a CPA is engaged to 
 

精选图文

221381