only the answers pls
Chapter 2 1. Consider the following statements: I. The PCAOB was created as part of the Sarbanes-Oxley Act. II. The Audit Committee of a company's Board of Directors would include the Chief Financial Officer (CFO) of the company. a. I is true; Il is true b. I is true; Il is false c. I is false; Il is true d. I is false; Il is false 2. Consider the following statements: 1. Financial statements are based on Generally Accepted Accounting Principles. II. Auditing standards issued by the PCAOB must be followed on all audits of companies' financial statements in the United States of America. a. I is true; Il is true b. I is true; Il is false C. I is false; Il is true d. I is false; Il is false 3. Who bears ultimate responsibility for the financial statements? a. Management of the organization, equally with the external auditor that audits the statements. b. Management of the organization and the American Institute of Certified Public Accountants (AICPA) C. Management of the organization. d. Management of the organization, and the Public Company Accounting Oversight Board (PCAOB). b. An attitude of intrusion and obstinacy C. A character that does not waiver. d. A questioning mind. 5. The Public Company Accounting Oversight Board can a. Set auditing standards used in auditing financial statements of publically traded companies located in the United States. b. Set accounting standards used in creating financial statements of publically traded companies located in the United States. c. Conduct audits of governmental entities. d. Conduct audits of public companies. e. All of the above. Chapter 2 1. Consider the following statements: I. The PCAOB was created as part of the Sarbanes-Oxley Act. II. The Audit Committee of a company's Board of Directors would include the Chief Financial Officer (CFO) of the company. a. I is true; Il is true b. I is true; Il is false c. I is false; Il is true d. I is false; Il is false 2. Consider the following statements: 1. Financial statements are based on Generally Accepted Accounting Principles. II. Auditing standards issued by the PCAOB must be followed on all audits of companies' financial statements in the United States of America. a. I is true; Il is true b. I is true; Il is false C. I is false; Il is true d. I is false; Il is false 3. Who bears ultimate responsibility for the financial statements? a. Management of the organization, equally with the external auditor that audits the statements. b. Management of the organization and the American Institute of Certified Public Accountants (AICPA) C. Management of the organization. d. Management of the organization, and the Public Company Accounting Oversight Board (PCAOB). b. An attitude of intrusion and obstinacy C. A character that does not waiver. d. A questioning mind. 5. The Public Company Accounting Oversight Board can a. Set auditing standards used in auditing financial statements of publically traded companies located in the United States. b. Set accounting standards used in creating financial statements of publically traded companies located in the United States. c. Conduct audits of governmental entities. d. Conduct audits of public companies. e. All of the above
