ACC 403 help A Guide to career/Snaptutorial ACC 403 help A Guide to career/Snaptutorial | Page 46

3. In connection with the audit of financial statements, an
independent auditor could be responsible for failure to detect a
material fraud if:
4. Which of the following most accurately describes constructive
fraud?
5. Which of the following auditor's defenses usually means
nonreliance on the financial statements by the user?
6. The preferred defense in third party suits is:
7. A broad interpretation of the rights of third-party beneficiaries
holds that users that the auditor should have been able to foresee as
being likely users of financial statements have the same rights as
those with privity of contract. This is known as the concept of:
8. The expectation gap:
9. In the auditing environment, failure to meet auditing standards is
often:
10. The principal issue to be resolved in cases involving alleged
negligence is usually:
11. Privity of contract exists between:
12. The principal issue in cases involving alleged negligence is
usually:
13. Laws that have been passed by the U.S. Congress and other
governmental units are:
14. "Absence of reasonable care that can be expected of a person in a
set of circumstances" defines:
15. The standard of due care to which the auditor is expected to
adhere to in the performance of the audit is referred to as the:
16. Which of the following is the auditor least likely to do when
aware of an illegal act?
17. The most important general ledger account included in and
affecting several cycles is the:
18. When an auditor believes that an illegal act may have occurred,
the auditor should first:
19. When an auditor knows that an illegal act has occurred, she
must:
20. Auditors accumulate evidence to:
21. A questioning mindset:
22. In testing for cutoff, the objective is to determine: