Can you check what are 11 wrong answers? It is answered, but 11 answers are wrong.

26. Information technology skills can link auditing to accounting information systems. Which of the following tasks can be completed using only information technology?

a. Both all five generic steps of a financial statement audit and all ten steps in the accounting cycle.

b. Neither all five generic steps of a financial statement audit nor all ten steps in the accounting cycle.(answer)

c. All five generic steps of a financial statement audit.

d. All ten steps in the accounting cycle.

27. The terms "adverse" and "disclaimer" are most closely associated with which generally accepted auditing standard?

a. Some other standard

b. Disclosure

c. Reporting

d. Opinion(answer)

28. Debra and Dexter are CPAs specializing in tax planning and preparation. Their father, Harry, taught them that being a good person will lead to doing good things. Which school of ethical thought does Harry follow?

a. utilitarianism

b. virtue ethics(answer)

c. deontology

d. ethical egoism

29. A clear understanding of the steps in the accounting cycle is likely to be useful in:

a. Financial audits.

b. Neither financial audits nor investigative audits.

c. Both financial audits and investigative audits. (answer)

d. Investigative audits.

30. Generally accepted auditing standards are divided into three groups. All of the following are standards in the "general" group except:

a. Independence

b. Internal control(answer)

c. Professional care

d. Training

31. The PCAOB has:

a. Worked with FASB to enhance autonomy of practice in the accounting profession. (answer)

b. Had no effect on autonomy of practice in the accounting profession.

c. Eliminated autonomy of practice in the accounting profession.

d. Limited autonomy of practice in the accounting profession.

32. Examples of Step 1 in Steps for Better Thinking include:

a. Learning about the eXtensible Business Reporting Language.

b. Neither recognizing the need to create an enterprise risk management plan nor learning about the eXtensible Business Reporting Language.

c. Both recognizing the need to create an enterprise risk management plan and learning about the eXtensible Business Reporting Language.

d. Recognizing the need to create an enterprise risk management plan. (answer)

33. In accounting, ethics issues can arise in:

a. Earnings smoothing.

b. Both revenue recognition and earnings smoothing. (answer)

c. Neither revenue recognition nor earnings smoothing.

d. Revenue recognition.

34. Which of the following is most reflective of ethical egoism?

a. Michelle reported fraud she had discovered because she believes that lying is always wrong.

b. Shan agreed to coach as many CPA candidates as possible, in spite of his busy schedule.

c. Jeff inflated his division's sales to get a bigger bonus for himself. (answer)

d. In making ethical decisions, Annie strives to be true to her basic ethical nature.

35. Which of the following violates the generally accepted auditing standard indicated?

a. Evidence: An auditor used last year's report as the only evidence for the current year's report. (answer)

b. Consistency: An auditor explained inconsistencies between a client's application of GAAP over the last two years.

c. Opinion: Auditors issued an adverse report on financial statements.

d. All of these violate the standards indicated.

36. Which of the following statements about information overload and accounting information systems is most true?

a. Both even with a properly designed AIS, decision makers can experience information overload and a well designed AIS can help decision makers manage information overload are true.

b. Even with a properly designed AIS, decision makers can experience information overload.

c. Neither even with a properly designed AIS, decision makers can experience information overload nor a well designed AIS can help decision makers manage information overload is true.

d. A well designed AIS can help decision makers manage information overload. (answer)

37. Knowledge management is important to the study of accounting information systems because, like business processes, it:

a. Crosses functional boundaries such as the accounting department and the purchasing department.

b. Represents one way to create value for stakeholders.

c. Both represents one way to create value for stakeholders and crosses functional boundaries such as the accounting department and the purchasing department. (answer)

d. Neither represents one way to create value for stakeholders nor crosses functional boundaries such as the accounting department and the purchasing department.

38. Tim is the lead auditor on an engagement with WRT Corporation. Before starting the audit, Tim planned and reviewed the schedule with his audit team. Which of the following generally accepted audit standards did Tim uphold by planning?

a. Professional care(answer)

b. Disclosure

c. Supervision

d. Independence

39. Bell's characteristics of a professional include the ability to recognize the influence of:

a. Political and social forces.

b. All of these. (answer)

c. Economic forces.

d. Legal and regulatory forces.

40. The third generic step in a financial statement audit has the strongest relationship to one of the ___ standards in GAAS.

a. General

b. Reporting

c. Environmental

d. Field work(answer)

41. Which of the following link accounting information systems with auditing?

a. Information technology skills

b. Neither business processes nor information technology skills

c. Both business processes and information technology skills(answer)

d. Business processes

42. In which stage of Steps for Better Thinking should a decision maker interpret and organize information?

a. Exploring(answer)

b. Envisioning

c. Identifying

d. Prioritizing

43. The generic model of business process management discussed in the text is likely to be most useful in which type of audit?

a. Investigative

b. Management

c. Financial

d. Operational(answer)

44. Lenise laid out three potential responses for a violation of her company's ethics code. Based on the Langenderfer and Rockness model, what should she do next?

a. Speculate about what will happen for each of the three responses. (answer)

b. Determine if her company's ethics code is based primarily on ethical egoism or some other school of ethical thought.

c. Talk with a trusted co-worker.

d. Determine who will be affected by each potential response.

45. When a decision maker reaches the point where the amount of information actually integrated into a decision begins to decline, the decision maker is experiencing:

a. Information asymmetry.

b. Relapse errors.

c. Enterprise risk.

d. Information overload. (answer)

46. Call suggested seven steps for creating a knowledge management system. How are those seven steps similar to the COSO internal control framework?

a. They both involve organizational culture. (answer)

b. They both require some form of system documentation, such as a flowchart.

c. Both involve organizational culture and require some form of system documentation, such as a flowchart

d. Neither involve organizational culture nor require some form of system documentation, such as a flowchart

47. The text described seven types of audits common in accounting practice. Which of the following statements about them is most true?

a. Both every audit involves some form of information technology and most audits involve some form of human judgment are true.

b. Every audit involves some form of information technology.

c. Neither every audit involves some form of information technology nor most audits involve some form of human judgment is true.

d. Most audits involve some form of human judgment. (answer)

48. Which of the following generic steps in a financial statement audit should occur last?

a. Perform compliance testing.

b. Issue the audit report. (answer)

c. Evaluate management's credentials.

d. Review the internal control system.

49. Depreciation is the periodic allocation of an asset's cost to the periods which benefit from the asset's use. That statement is an example of:

a. Neither technical knowledge nor a specialized knowledge base.

b. Technical knowledge. (answer)

c. A specialized knowledge base.

d. Both technical knowledge and a specialized knowledge base.

50. ___ was turned in by his sons for a Ponzi scheme.

a. Victor Vroom

b. Charles Ponzi

c.Bernie Madoff(answer)

d. Jeff Skilling