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Audit TBE
Audit TBE
C. obtain a general average of 75%, with no grades lower than 65% in any given
subject.
D. obtains a rating of 80% in at least majority of the subjects and took the
conditional examination 3 years after.
Ans: C
A. Intellectual Skills
B. Legislative Skills
C. Personal Skills
D. Interpersonal and Communication Skills
Ans: B
3. Any person applying for the CPA licensure exam can be previously
incarcerated
True
False
Ans: False
A. Loyalty
B. Integrity
C. Objectivity
D. Commitment to excellence
Ans: A
A. Leadership skills
B. Integration and Collaboration
C. Anticipating and serving evolving needs
D. Customer service
Ans: D
True
False
Ans: True
True
False
Ans: False
A. Auditing
B. Financial accounting and reporting
C. Law on partnership and corporation
D. Taxation
Ans: C
True
False
Ans: True
Ans: B
Ans: True
A. SEC
B. PRC
C. COA
D. BIR
Ans: A
Ans: C
5. The practitioner is the person who provides the assurance to the intended
users about a subject matter that is the responsibility of another party
True
False
Ans: True
A. Completeness
B. Neutrality
C. Relevance
D. Complexity
Ans: D
A. Control Risk
B. Business Risk
C. Detection Risk
D. Inherent Risk
Ans: B
A. Review
B. Independent financial statements audit
C. Agreed-upon procedures
D. Compilation
Ans: B
9. The person who provides the assurance to the intended users about a subject
matter that is the responsibility of another party is called
A. Practitioner
B. Responsible party
C. Chairman
D. Intended user
Ans: A
True
False
Ans: False
A. Auditing
B. Accounting
C. Attestation
D. Opinion
Ans: C. Attestation
A. Systematic procedure
B. Control
C. Attest function
D. Scope of an audit
A. Operational audit
B. Program audit
C. Management audit
D. Financial audit
True
False
Ans: True
A. Accounting
B. Management
C. Auditing
D. Financing
Ans: A. Accounting
A. Auditing
B. Accounting
C. Economics
D. Management
Ans: A. Auditing
A. Confidentiality
B. Professional behavior
C. Integrity
D. Independence
E. All of the above
A. Accuracy
B. Adequacy
C. Compliance
D. Dependence
Ans: C. Compliance
9. This refers to the closeness with which the assertations can be identified with
established criteria
A. Established criteria
B. Assertions about economic actions & events
C. Objectively obtains and evaluates evidence
D. Degree of correspondence
10. The auditor's opinion helps establish the credibility of the financial
statements
True
False
Ans: True
Ans: D.
Ans: A
A. R.A 9262
B. R.A 9298
C. R.A 10175
D. R.A 8353
Ans: B.
4. The auditor should plan and perform the audit with an attitude of professional
skepticism
True
False
Ans: True
5. The standard of due care to which the auditor is expected to be held is referred
to as
Ans: A.
6. Refers to limitations of liability to the parties to a given contract
A. Contributory negligence
B. Absence of casual connection
C. Privity of contract
D. Statute of limitations
Ans: C
A. Common law
B. Republic Act
C. Bill
D. Statutory laws
Ans: D
8. Refers to laws that have been developed through court decisions rather than
through government statutes
A. Statutory laws
B. Common laws
C. Bill
D. Wrongdoings
Ans: B
9. Which one of the auditor's four defenses is the preferred defense in third party
lawsuits?
A. Lack of duty
B. Non-negligent performance
C. Absence of casual connection
D. Contributory negligence
Ans: B
10. In the event the auditor fails to detect fraud and is found negligent, a client is
entitled to recover any losses occuring since the auditor's negligence was
proximate cause but is unable to recover the audit fee
True
False
Ans: False - the client may recover the audit fee because of the auditor's breach
of contract