1. One potential judgment bias involves people tending to seek out and place greater emphasis on information supporting their initial beliefs. Which of the following biases is this an example of?

Select one:

a. Availability Tendency

b. Rush to Solve

c. Confirmation Tendency

d. Anchoring Tendency

Which type of audit opinion would be appropriate for the following:

2. There is a departure from GAAS that is material, but not pervasive.

Select one:

a. Unmodified

b. Qualified

c. Adverse

d. Disclaimer

3.

Excess inventory belonging to your client is stored at an off-site warehouse. As part of your audit testing of that warehouse you do a walkthrough looking for obsolete inventory items. This procedure tests which of the following assertions?

Select one:

a. existence

b. valuation

c. occurrence

d. accuracy

e. rights and obligations

4.

Event: Your audit partner takes on a new high-risk audit client and wants you to perform an extra thorough audit during your first year with the new client. How does this impact Audit Risk in the Audit Risk Model?

Select one:

a. It increases.

b. It decreases.

c. No effect.

d. Not applicable.