Test Bank
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award:
1.00 point
TB 01-01 Which of the following best describes the main rea...
Which of the following best describes the main reason that independent auditors report on a company's financial statements?
Management fraud may exist within the company and it is likely that the independent auditors will detect it.
→
Users of financial statements need confidence in the numbers they base their decisions on.
Misstated account balances may be corrected as the result of the independent audit work.
The accounting system from which the financial statements are derived may have a poorly designed system of internal control.
Multiple Choice
TB 01-01 Which of the following best describes the main rea...
award:
1.00 point
TB 01-02 Reducing information risk means the same as ______...
Reducing information risk means the same as ________. serving the public interest monitoring economic activities
→
improving the credibility of information ensuring generally accepted accounting principles are used to measure profit
Multiple Choice
TB 01-02 Reducing information risk means the same as ______...
award:
1.00 point
TB 01-03 The underlying conditions that create demand by us...
The underlying conditions that create demand by users for reliable financial information include the fact that ________. more reliable information will allow investors to calculate the rate of return on their investment
→
users are separated from accounting records by distance and time governments rely on such information to create tax policies there is a need for the expression of an opinion as to the fairness of financial statements
Multiple Choice
TB 01-03 The underlying conditions that create demand by us...
23/08/2013 12:38 AM
1 of 334
http://ezto.mhecloud.mcgraw-hill.com/hm.tpx
For more Ebook's - Test Bank - Solution Manual Please visit our website : http://www.needbook1.com/ or contact us at Ebooksmtb@hotmail.com Also you can contact us on Skype: Ebooksmtb
award:
1.00 point
TB 01-01 Which of the following best describes the main rea...
Which of the following best describes the main reason that independent auditors report on a company's financial statements?
Management fraud may exist within the company and it is likely that the independent auditors will detect it.
→
Users of financial statements need confidence in the numbers they base their decisions on.
Misstated account balances may be corrected as the result of the independent audit work.
The accounting system from which the financial statements are derived may have a poorly designed system of internal control.
Multiple Choice
TB 01-01 Which of the following best describes the main rea...
award:
1.00 point
TB 01-02 Reducing information risk means the same as ______...
Reducing information risk means the same as ________. serving the public interest monitoring economic activities
→
improving the credibility of information ensuring generally accepted accounting principles are used to measure profit
Multiple Choice
TB 01-02 Reducing information risk means the same as ______...
award:
1.00 point
TB 01-03 The underlying conditions that create demand by us...
The underlying conditions that create demand by users for reliable financial information include the fact that ________. more reliable information will allow investors to calculate the rate of return on their investment
→
users are separated from accounting records by distance and time governments rely on such information to create tax policies there is a need for the expression of an opinion as to the fairness of financial statements
Multiple Choice
TB 01-03 The underlying conditions that create demand by us...
23/08/2013 12:38 AM