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Acct 404 Quiz

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Acct 404 Quiz
ACC 403 Week 4 quiz 3
Question 1

If an auditor fails to fulfill a certain requirement in the contract, they may be guilty of:
Answer

Selected Answer: breach of contract.
Correct Answer: breach of contract.

Question 2

The assessment against a defendant of that portion of the damage caused by the defendant's negligence is called:
Answer

Selected Answer: separate and proportionate liability.
Correct Answer: separate and proportionate liability.

Question 3

In connection with the audit of financial statements, an independent auditor could be responsible for failure to detect a material fraud if:
Answer

Selected Answer: statistical sampling techniques were not used on the audit engagement.
Correct
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