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

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Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-01 Define information risk and explain how the financial statement auditing process helps to reduce this risk; thereby reducing the cost of capital for a company.
Source: Original
Topic: User Demand for Reliable Information
   
52. The four basic requirements for becoming a CPA in most states are 
 


 
A.  education, the CPA Examination, experience, and substantial equivalency.
 
B.  the CPA Examination, experience, continuing professional education, and a state certificate.
 
C.  continuing professional education, the CPA Examination, experience, and an AICPA certificate.
 
D.  education, the CPA Examination, experience, and a state certificate.
 
AACSB: Analytic
AICPA: BB Legal
AICPA: FN Research
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-07 List and explain the requirements for becoming a certified public accountant (CPA) and other certifications available to an accounting professional.
Source: Original
Topic: Become a Professional and Get Certified!
 
 
53. The study of business operations for the purpose of making recommendations about the efficient use of resources, effective achievement of business objectives, and compliance with company policies is referred to as 
 


 
A.  environmental auditing.
 
B.  financial auditing.
 
C.  compliance auditing.
 
D.  operational auditing.
 
AACSB: Analytic
AICPA: BB Legal
AICPA: FN Research
Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: 1 Easy
Learning Objective: 01-06 Describe the audits and auditors in governmental; internal; and operational auditing.
Source: Original
Topic: Other Kinds of Engagements and Information Professionals
 
 

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