Essay on Acc 403 Midterm Exam Answers

948 Words Sep 6th, 2015 4 Pages
ACC 403 Midterm Exam Answers ACC 403 Midterm Exam Answers
Part 1
• Question 1

Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called:

• Question 2 ________ risk reflects the possibility that the information upon which the business decision was made was inaccurate.

• Question 3

The use of the Certified Public Accountant title is regulated by:

• Question 4 The Sarbanes-Oxley Act applies to which of the following companies?

• Question 5 Three common types of attestation services are:

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In such cases, the auditor will likely issue a:

• Question 18 Which of the following is least likely to cause uncertainty about the ability of an entity to continue as a going concern?

• Question 19 The members of a client's "audit committee" should be:

• Question 20 Which of the following services are allowed by the SEC whenever a CPA also audits the company?

• Question 21 A six-step approach is often used to resolve an ethical dilemma. The first step in this process is to:

• Question 22 Under the AICPA independence rules, the auditor:

• Question 23 Independence is required of a CPA when performing:

• Question 24 When CPAs are able to maintain their actual independence, it is referred to as independence in:

• Question 25 The

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