Auditing - Final Test

Auditing - Final Test - Accounting403 Auditing...

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Accounting 403 Auditing Final Spring 2010  MULTIPLE CHOICE.  Choose the one alternative that best completes the statement or answers the question.  1) 
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Society  has  attached a  special  meaning  to the  term  "professio nal." A  profession al is: 
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1) 
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__C____  A) 
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any person who  receives pay for the services performed.  B) 
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someone who  has passed a qualifying exam to enter the job market.  C) 
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a person who is  expected to conduct himself or herself at a higher level than the requirements of society's laws or regulations.  D) 
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someone who  has both an education in the trade and on - the - job experience received under an experienced supervisor.    2) 
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The  underlyin g reason  for a code  of  profession al conduct  for any  profession  is: 
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2)  __A___ _  A t h e   n e e d   f o r   p u b l i c   c o n f id en ce  in  th qu ali ty  of  se rv ic of  th pr of es si on
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that it allows  licensing agencies to have a yardstick to measure deficient behavior.  D) 
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that it is  required by federal legislation.    3) 
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For which  of the  following  profession al  services  must  CPAs be  independe nt? 
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3)  __C___ _  A
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Management  advisory  services. 
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B)  Prep aration of 
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Audits of  financial  statements. 
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D)  All  three of the    4
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When  CPAs are  able to  maintain  their  actual  independe nce, it is  referred  to as  independe nce in: 
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4)  __D___ _  A
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appearance. 
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B) 
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conduct. 
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C) 
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total. 
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D)  f a  
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Which of  the  following  statement s is true?  The CPA  firm will  lose its  independe nce if: 
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5)  __B___ _  A a   s t a f f   t a x   p r e p a r e r   w h o   p r o v i d e s  1 ho ur of  no n - au dit  se rv ic es  to  th cli en ac qu ire st oc in  th at  cli en t. 
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an audit  manager in an  office different than the office providing audit services has a direct, immaterial financial interest in the audit client.  D) 
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a covered  member has an indirect, immaterial financial interest in an audit client.    6) 
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This note was uploaded on 03/14/2011 for the course ACC 403 taught by Professor Willaimguy during the Spring '09 term at Strayer.

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Auditing - Final Test - Accounting403 Auditing...

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