DeVry ACCT 444 Week 1-5 Complete Quizzes
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A CPA may only solicit new clients through mass mailings.<br />
1. (TCO 3) The Sarbanes-Oxley Act applies to which of the following companies? (Points : 3)<br />
Privately held companies<br />
All companies<br />
All public companies and privately held companies with assets greater than $500 million<br />
Public companies<br />
Chapter 1<br />
Question 4. 4. (TCO 1) An operational audit has as one of its objectives to (Points : 3)<br />
make recommendations for improving performance.<br />
determine whether the financial statements fairly present the entity’s operations.<br />
evaluate the feasibility of attaining the entity’s operational objectives.<br />
report on the entity’s relative success in attaining profit maximization.<br />
Chapter 1<br />
Question 5. 5. (TCO 1) Which of the following services do not need to be preapproved by the audit<br />
committee of an issuer? (Points : 3)<br />
Nonaudit services related to internal control over financial reporting<br />
Tax services<br />
Nonaudit services that are less than 5 % of total revenues from the audit client<br />
Services provided by the auditor on a recurring basis
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