Quiz Ch17 - ViewAttempt1of1 Title: Started: Submitted:...

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View Attempt 1 of 1  Title: M17 Started: March 26, 2009 1:19 PM Submitted: March 26, 2009 1:33 PM Time spent: 00:13:50  Total score: 8/10 = 80%   Total score adjusted by 0.0  Maximum possible score: 10 
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1.      Which of the following material events occurring subsequent to the balance sheet date would  require an adjustment to the financial statements before they could be issued?     Student Response Value Correct Answer Feedback a.  Sale of long-term debt  or capital stock 0%      b.  Loss of a plant as a  result of a flood 0%      c.  Major purchase of a  business that is  expected to double  sales volume 0%      d.  Settlement of  litigation, in excess of  the recorded liability 100%         Score: 1/1    2.      An auditor is concerned with completing various phases of the examination after the balance  sheet date. This "subsequent period" extends to the date of the     Student Response Value Correct Answer Feedback a.  Auditor's report 100%      b.  Final review of the  audit working papers 0%      c.  Public issuance of  the financial  statements 0%      d.  Delivery of the  auditor's report to  the client 0%        
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Score: 0/1    3.      In the course of the examination of financial statements for the purpose of expressing an opinion,  the auditor normally prepares a schedule of unadjusted differences for which the auditor did not  propose adjustment when they were discovered. What is the primary purpose of this schedule?  
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Quiz Ch17 - ViewAttempt1of1 Title: Started: Submitted:...

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