ACCT 422 / ACCT/422 / ACCT422 / Week 8 Final exam
(NEW 2016)
Complete
course guide available here – http://class-tutor.com/downloads/acct-422-acct422-acct422-week-8-final-exam-new-2016/
HOMEWORK Description
ACCT 422 / ACCT/422 /
ACCT422 / Week 8 Final exam (NEW 2016)
1. (TCO 2) When determining
whether an exception is highly material the extent to which the exception
affects different elements of the financial statements must be considered. This
concept is called
2. (TCO 2) When a client
has not applied GAAP consistently from the prior year to the current year, the
auditor does not concur with the appropriateness of the change, and the change
in GAAP has a material effect on the financial statements, the auditor should
issue a(n)
3. (TCO 2) The only
unqualified opinion which contains modified wording (excluding an explanatory
paragraph) relates to
4. (TCO 2) A CPA will issue
an adverse auditor’s opinion if
5. (TCO 11) A principal
purpose of a letter of representation from management is to
6. (TCO 11) Refusal by a client to prepare and sign the representation
letter would require a(n)
7. (TCO 11) Inquiries of
management regarding the possibility of unrecorded contingencies will not be
useful in uncovering
8. (TCO 11) Which of the
following procedures might be useful in discovering a contingent liability for
a lawsuit that management is intentionally neglecting to disclose?
9. (TCO 2) In which type of
report would you read the following statement: “We believe that our examination
provides a reasonable basis for our opinion.”?
10. (TCO 2) Compilation
reports may be of all but which of the following types?
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