spacenab

Spacenab

Log in

 Password
"Post your contents, writings, articles, info-graphics, and more on spacenab."
sign up with facebook
Create a new post
Santacruz

ACCT 400 Final Exam

Santacruz

ACCT 400 Final Exam Answers

 

 http://www.homeworkarena.com/acct-400-final-

 

<table width="100%"> <tbody><tr> <td>

Part 1 of 1 – Final Exam

</td> <td>

45.0/ 50.0 Points

</td> </tr> </tbody></table>

The Final Exam has 50 true/false questions, covers Chapters 1 & 2, and 6 through 11, and has a 4 hour time limit.

 

<table width="100%"> <tbody><tr> <td> <table width="100%"> <tbody><tr> <td>

Question 1 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

oType I subsequent events are always referenced in the audit report.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 2 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

Regardless of the specific form, documentary evidence shows that the receiving process occurred.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 3 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

Preliminary time budget information is compared to actual time worked and is used for purposes of billing, performance evaluation, and future bidding.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 4 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

Sales returns and allowances remain constant in their magnitude and never need differing levels of control and approval.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 5 of 50

</td> <td>

0.0/ 1.0 Points

</td> </tr> </tbody></table>

All assertions apply to every account.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 6 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

Failure to provide the auditor information regarding pending litigation is grounds for a scope limitation.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 7 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

Detail schedules need to tie to the lead schedule.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 8 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

Sampling risk is the risk that your sample is not representative of the population.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 9 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

An auditor’s report on an integrated audit will be unqualified if internal control over financial reporting does not have any material weaknesses and the financial statements are fairly presented.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 10 of 50

</td> <td>

0.0/ 1.0 Points

</td> </tr> </tbody></table>

If a transaction is paid for by credit card, the seller processes the sales transaction with the credit card issuer when the item is received.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 11 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

The last steps of an integrated audit are to understand the industry and contract with the client to do the audit.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 12 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

Cash received for sales comes in through several channels.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td> </tr> </tbody></table>

 

<table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> </tr> <tr> <td> <table width="100%"> <tbody><tr> <td>

Question 13 of 50

</td> <td>

1.0/ 1.0 Points

</td> </tr> </tbody></table>

Recalculation is a form of reperformance.

<table> <tbody><tr> <td>

 

</td> </tr> </tbody></table>

 

<table> <tbody><tr> <td> <table> <tbody><tr> <td>

 

</td> </tr> <tr> <td>

 

</td> </tr> </tbody></table> </td> <td> <table> <tbody><tr> <td>

A. True

</td> </tr> <tr> <td>

B. False

</td> </tr> </tbody></table> </td>
Views(12) Opinions(0) 09/03/2016 14:16:29 Report abuse
Copyright © 2014 spacenab.com . All the right reserved.