DeVry ACCT 444 Week 1-5 Complete Quizzes
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7. (TCO 3) Independence in auditing means (Points: 3)<br />
remaining aloof from a client.<br />
taking an unbaised and objective viewpoint.<br />
not being financially dependent on a client.<br />
being an advocate for a client.<br />
Chapter 4<br />
8. (TCO 3) The financial interests of which of the following parties would not be included as a<br />
direct financial interest of the CPA? (Points: 3)<br />
Dependent child<br />
Relative supported by the CPA<br />
Spouse<br />
Sibling living in the same city as the CPA<br />
Chapter 4<br />
9. (TCO 1) The phrase U.S. generally accepted accounting principles is an accounting term that<br />
(Points: 3)<br />
encompasses the conventions, rules, and procedures necessary to define U.S. accepted accounting<br />
practice at a particular time.<br />
provides a measure of conventions, rules, and procedures governed by the AICPA.<br />
is included in the audit report to indicate that the audit has been conducted in accordance with generally<br />
accepted auditing standards (GAAS).<br />
includes broad guidelines of general application but not detailed practices and procedures.<br />
Chapter 1<br />
10. (TCO 1) Which of the following statements best describes the ethical standard of the<br />
profession pertaining to advertising and solicitation? (Points: 3)<br />
A CPA may advertise in any manner that is not false, misleading, or deceptive.<br />
There are no prohibitions regarding the manner in which CPAs may solicit new business.<br />
All forms of advertising and solicitation are prohibited.
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