strayer acc403 quiz 1

Question 1
2 out of 2 points
Correct
In “auditing” financial accounting data, the
primary concern is with:
Question 2
2 out of 2 points
Correct
The Sarbanes-Oxley Act applies to which of the following
companies?
Question 3
2 out of 2 points
Correct
Which of the following is not a SysTrust Services principle
as defined by the AICPA?
Question 4
2 out of 2 points
Correct
Which of the following services provides the lowest level of
assurance on a financial statement?
Question 5
2 out of 2 points
Correct
An accountant:
Question 6
2 out of 2 points
Correct
Recording, classifying, and summarizing economic events in a
logical manner for the purpose of providing financial information for decision
making is commonly called:
Question 7
0 out of 2 points
Incorrect
Any service that requires a CPA firm to issue a report about
the reliability of an assertion that is made by another party is a(n):
Question 8
2 out of 2 points
Correct
The use of the Certified Public Accountant title is
regulated by:
.
Question 9
2 out of 2 points
Correct
The most common way for users to obtain reliable information
is to:
Question 10
2 out of 2 points
Correct
An examination of part of an organization’s procedures and
methods for the purpose of evaluating efficiency and effectiveness is what type
of audit?
Question 11
2 out of 2 points
Correct
One objective of an operational audit is to:
Question 12
2 out of 2 points
Correct
Which of the following is considered audit evidence?

Question 13
2 out of 2 points
Correct
An audit to determine whether an entity is following
specific procedures or rules set down by some higher authority is classified as
a(n):
Question 14
2 out of 2 points
Correct
A correct relationship among the auditor, the client, and
the external users is:
Question 15
0 out of 2 points
Incorrect
Three common types of attestation services are:
Question 16
2 out of 2 points
Correct
The methods used by a CPA firm to ensure that the firm meets
is professional responsibilities to clients and others is:
Question 17
2 out of 2 points
Correct
Hansen Corporation’s stock is listed on a national stock
exchange and registered with the Securities and Exchange Commission. Hansen’s
management hires a CPA to perform an independent audit of Hansen’s financial
statements. The primary objective of this audit is to provide assurance to the:
Question 18
2 out of 2 points
Correct
Members of the Public Company Accounting Oversight Board are
appointed and overseen by:
Question 19
2 out of 2 points
Correct
The International Standards on Auditing (ISAs):
Question 20
2 out of 2 points
Correct
To obtain reasonable assurance about whether the financial
statements as a whole are free from material misstatement, the auditor must
fulfill several performance responsibilities, including:
Question 21
2 out of 2 points
Correct
The legal right to perform audits is granted to a CPA firm
by regulation of:
Question 22
2 out of 2 points
Correct
The purpose of establishing quality control policies and
procedures to accept or continue a client relationship is to:
Question 23
2 out of 2 points
Correct
The form that must be completed and filed with the
Securities and Exchange Commission whenever a company experiences a significant
event that is of interest to public investors is the:
Question 24
2 out of 2 points
Correct
Statements on Standards for Accounting and Review Services
are issued by the:
Question 25
2 out of 2 points
Correct
For privately held companies who is responsible for
establishing auditing standards?
Question 26
2 out of 2 points
Correct
Standards issued by the Public Company Accounting Oversight
Board must be followed by CPAs who audit:
Question 27
2 out of 2 points
Correct
The organization that is responsible for providing oversight
for auditors of public companies is called the ________.
Question 28
2 out of 2 points
Correct
The “Principles Underlying an Audit in Accordance with
Generally Accepted Auditing Principles” provides a framework to help
auditors:
Question 29
2 out of 2 points
Correct
Historically auditing standards have been organized into
three categories, including:
Question 30
2 out of 2 points
Correct
When assessing the risk of material misstatements in the
financial statements,