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1、Arens/Elder/Beasley Chapter 2Multiple-Choice Questions1. Which one of the following is not one of the three General Standards?easy a. Proper planning and supervision.a b. Independence of mental attitude.c. Adequate training and proficiency.d. Due professional care.2. Which one of the following is no
2、t a Field Work Standard?easy a. Adequate planning and supervision.b b. Due professional care.c. Understand the entity and its environment including internal control.d. Sufficient appropriate audit evidence.3. The General Standards stress the importance of:easy a. evidence accumulation.b b. personal
3、qualities the auditor should possess.c. communicating the auditors findings to the reader.d. general supervision of the audit.4.easyThe generally accepted auditing standard that requires “Adequate technical training and proficiency” is normally interpreted as requiring the auditor to have:a a. forma
4、l education in auditing and accounting.b. worked for an entity similar to the entity being audited.c. independence in mental attituded. a graduate degree in a business field.5. (SOX) Members of the Public Company Accounting Oversight Board are appointed and overseen by:easy a. the U.S. Congress.d b.
5、 the American Institute of Certified Public Accountants.c. the Auditing Standards Board.d. the Securities and Exchange Commission.6.easyStatements on Auditing Standards provide auditors of privately held companies with _ guidance regarding the conduct of financial statement audits.b a. fairly extens
6、iveb. some limitedc. practically nod. specific and detailedArens/Elder/Beasley 7.easyWhich of the following statements most accurately captures the intent of the standards of field work?c a. Field work standards are primarily concerned with personal attributes necessary during the conduct of the aud
7、it.b. Field work standards provide extensive guidance regarding the conduct of an audit.c. Field work standards are primarily directed at the auditors planning, understanding of internal control, and evidence accumulation.d. Field work standards are primarily concerned with the conduct of substantiv
8、e testing as opposed to testing of internal controls.8. (SOX)easyPrior to the passage of the Sarbanes-Oxley Act, which of the following was responsible for establishing auditing standards?c a. Securities and Exchange Commissionb. Public Company Accounting Oversight Boardc. Auditing Standards Boardd.
9、 National Association of Accounting9. (SOX)mediumStandards issued by the Public Company Accounting Oversight Board must be followed by CPAs who audit:b a. both private and public companies.b. public companies only.c. private companies, public companies, and nonprofit entities.d. private companies on
10、ly.10. Which of the following is the least likely form of business for a CPA firm?medium a. General partnershipb b. General corporationc. Limited liability companyd. Limited liability partnership11. The Statements on Auditing Standards issued by the Auditing Standards Board:medium a. are interpretat
11、ions of generally accepted auditing standards.a b. are the equivalent of laws for audit practitioners.c. must be followed in all situations.d. are optional guidelines which an auditor may choose to follow or not follow when conducting an audit.12. An auditor need not abide by a particular auditing s
12、tandard if the auditor believes that:medium a. the issue in question is immaterial in amount.a b. more expertise is needed to fulfill the requirement.c. the requirement of the standard has not been addressed by the PCAOB.d. any of the above three are correct.13. (SOX) The Public Company Accounting O
13、versight Board does not:medium a. perform inspections of the quality controls at audit firms that audit public companies.b b. establish auditing standards that must be followed by CPAs on all audits.c. oversee auditors of public companies.d. perform any of the above functions.14.mediumThe form that
14、must be completed and filed with the Securities and Exchange Commission whenever a company experiences a significant event that is of interest to public investors is the:b a. Form S-1.b. Form 8-K.c. Form 10-K.d. Form 10-Q.Arens/Elder/Beasley 15.mediumThe form that must be filed with the Securities a
15、nd Exchange Commission whenever a company plans to issue new securities to the public is the:a a. Form S-1.b. Form 8-K.c. Form 10-K.d. Form 10-Q.16.mediumThe third general standard states that due care is to be exercised in the performance of an audit. This standard is generally interpreted to requi
16、re:c a. objective review of the adequacy of the technical training of firm personnel.b. thorough review of the existing internal control structure.c. critical review of work done at every level of supervision.d. periodic review of a CPA firms quality control procedures.17. (SOX)mediumAssume the Public Company Accounting Oversight Board (PCAOB) identifies a violation during its inspection of a registered accounting firm. d a. The PCAOB may not enforce some disciplinary action a
