Introduction to Assurance
Quiz by Nicky Trajano
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5 questions
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- Q1Which of the following would be considered an assurance engagement?Giving an opinion on the conformity of the financial statements of a university with generally accepted accounting principles.Giving an opinion on the fair presentation of a newspaper’s circulation data.Giving an opinion on a prize promoter’s claims about the amount of sweepstakes prizes awarded in the past.All answers are correct.45s
- Q2An assurance engagement should exhibit the following elements exceptA subject matterA conclusionA three party relationshipAppropriate professional fee45s
- Q3The following are assurance engagements exceptReview of financial statementsInformation system reliability servicesFinancial statements auditTax consulting45s
- Q4The characteristics for determining whether criteria are suitable include the following, exceptSufficiencyRelevanceUnderstandabilityReliability45s
- Q5When the professional accountant has obtained sufficient appropriate evidence to conclude that the subject matter conforms in all material respects with identified suitable criteria, he or she can provide what level of assurance?AbsoluteModerateHighNone45s