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Quiz Ch01B - ViewAttempt1of1 Title Started Submitted...

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View Attempt 1 of 1  Title: M01B Started: April 24, 2009 7:54 PM Submitted: April 24, 2009 8:02 PM Time spent: 00:08:03  Total score: 9/10 = 90%   Total score adjusted by 0.0  Maximum possible score: 10 
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1.      Assurance services include which of the following?     Student Response Value Correct Answer Feedback a.  Preparing a report  representing a client's  position during an IRS  audit 0%      b.  Working with a client  to develop a more  efficient method of  processing financial  transactions 0%      c.  Offering an opinion  concerning the  accuracy of  statements made on a  client's web site 100%      d.  Assisting a client in  identifying potential  sources of capital for  potential acquisitions 0%         Score: 1/1    2.      Which of the following best describes why publicly-traded corporations follow the practice of  having the outside auditor appointed by the board of directors or elected by the stockholders?     Student Response Value Correct Answer Feedback a.  To comply with the  regulations of the  Financial Accounting  Standards Board 0%     
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b.  To enhance auditor  independence from  the management of  the corporation 100%      c.  To encourage a policy  of rotation of the  independent auditors 0%      d.  To provide the  corporate owners with  an opportunity to  voice their opinion  concerning the quality  of the auditing firm  selected by the  directors
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