Question
1 The unpaid fees ruling does not apply to unbilled fees. Select one: True False 2 The unpaid fees ruling does not apply to unbilled
1 The unpaid fees ruling does not apply to unbilled fees.
Select one:
True
False
2
The unpaid fees ruling does not apply to unbilled fees.
Select one:
True
False
3
The form of the audit program will vary with the circumstances of the audit.
Select one:
True
False
4
Ethics deals with how people act towards one another.
Select one:
True
False
5
The auditor of a public company is responsible for issuing more opinions than the auditor of private company.
Select one:
True
False
6 Observing relates to watching or witnessing the performance of an activity or process.
Select one:
True
False
7
Auditors are responsible for planning and performing an audit to obtain reasonable assurance that the financial statements are free of material misstatement.
Select one:
True
False
8
An important function of working papers is to document audit decisions.
Select one:
True
False
9
Tracing produces primarily analytical evidence.
Select one:
True
False
10
One of the distinguishing characteristics of any profession is the existence of a code of professional conduct for its members.
Select one:
True
False
11
An examination consists primarily of inquiries of an entity's management and comparative analyses of financial information.
Select one:
True
False
12
An engagement letter constitutes a legal contract between the auditor and the client.
Select one:
True
False
13
The concept of reasonable assurance does not guarantee the accuracy of the financial statements.
Select one:
True
False
14
The auditor's report should make explicit reference to the management responsibility for the financial statements.
Select one:
True
False
15
Recalculation consists of checking the mathematical accuracy of workpapers.
Select one:
True
False
16
If management concludes adequate disclosures in the financial statements concerning the entity's ability to continue as a going concern, the auditor would issue a qualified opinion on the financial statements with an additional paragraph explaining the going concern uncertainty.
Select one:
True
False
17
Inquiring involves only written inquiry by the auditor.
Select one:
True
False
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