AuditMCQ Practice - 3 IMP (b).docVIP

Audit Standards: general, field work; judgment about materiality, procedures 1 Which one of the following is not a General Standard?a. Proper planning and supervision.b. Independence of mental attitude.c. Adequate training and proficiency.d. Due professional care. 2 Which one of the following is not a Field Work Standard?a. Proper planning and supervision.b. Due professional care.c. Study the internal control structure.d. Gather sufficient competent evidence. 3 The general standards stress the importance ofa. evidence accumulation.b. the personal qualities which the auditor should possess.c. communicating the auditors findings to the reader.d. all of the above. 4 The generally accepted?auditing?standard that requires Adequate technical training and proficiency is normally interpreted as requiring the auditor to have a. formal education in auditing and?accounting.b. adequate practical experience for the work being performed.c. continuing professional education.d. all of the above. 5 In any case in which the CPA or the CPAs assistants are not qualified to perform the work, a professional obligation exists to a. acquire the requisite knowledge and skills.b. suggest someone else who is qualified to perform the work.c. decline the engagement.d. any of the above. 6 A member CPA firm is required by the AICPA to belong to the SEC Practice Section if ita. wishes to audit companies whose assets exceed $250 million.b. does any audits.c. does any reviews or audits.d. audits one or more publicly-held companies. 7 If it is probable that the judgment of a reasonable person would have been changed or influenced by the omission or misstatement of information, then that information is, by definition of FASB Statement No. 2, a. material.b. insignificant.c. significant.d. relevant. 8 The preliminary judgment about materiality is the amount by which the auditor believes the statements could be misstated and still not affect the decisions of reasonable users. a.