Quiz Ch02B

Quiz Ch02B - ViewAttempt1of1 Title Started Submitted...

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View Attempt 1 of 1  Title: M02B Started: April 24, 2009 8:49 PM Submitted: April 24, 2009 9:00 PM Time spent: 00:11:03  Total score: 7/10 = 70%   Total score adjusted by 0.0  Maximum possible score: 10 
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1.      What best describes the concept of risk assessment on which auditors can provide assurance?     Student Response Value Correct Answer Feedback a.  The risk that  financial statements  are misstated  because of fraud 0%      b.  The risk that  financial statements  are misstated  because of error or  fraud 0%      c.  Whether  management has  systems in place to  evaluate and  effectively manage  the entity's business  risks 100%      d.  Developing client  acceptance and  continuance  practices that  minimize the  likelihood of lawsuits  against the auditor 0%         Score: 0/1    2.      The authoritative body designed to promulgate standards concerning an accountant's association  with audited financial statements of an entity that is required to file financial statements with an  agency regulating the issuance of the entity's securities is the  
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  Student Response Value Correct Answer Feedback a.  Financial  Accounting  Standards Board 0%      b.  General Accounting 
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Quiz Ch02B - ViewAttempt1of1 Title Started Submitted...

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