1. Corporate governance includes concerns about:
2. The most powerful corporate governance legislation to date has been:
3. The Sarbanes-Oxley Act (SOX) of 2002 does not specifically prohibit an independent
auditor from performing the following non-audit function(s) for an audit client:
4. Which is the following descriptions is not one of the “Thirteen Financial Shenanigans”
identified by Schilit and Perler, and listed in Exhibit 10–1:
5. The notes to the financial statements:
6. The nature and content of disclosures relate to all of the following except:
7. Which of the following is
not
a topic that is likely to be discussed as a significant
accounting policy?
8. The notes to the financial statements:
9. Significant accounting policies are described in the notes to the financial statements
because:
10. When an entity changes its accounting from one generally accepted method to another
generally accepted method:
11. The impact of changing price levels on amounts reported in financial statements is:
12. Management’s statement of responsibility:
13. Firms that issue registered securities are required to file, with the SEC on an annual
basis, which of the following?
14. A firm’s cash dividends were $3.96 per share of common stock for calendar 2013. In 2014,
the stock was split 3–for-1, and in 2015 a 10% stock dividend was issued. Dividends per share for
2013, to be reported in the firm’s annual report for 2015, are:
15. Business segment information is included in the notes to financial statements because:
16. For 2013, Skresso Co. reported $3.64 of earnings per share of common stock. During
2014, the firm had a 4% common stock dividend. The 2013 earnings per share to be reported in
the annual report for 2014 are:
17. Management’s statement of responsibility:
18. Which of the following is the proper paragraph sequence for an independent Auditor’s
Report?
19. A firm’s independent auditors have the responsibility to:
20. The independent auditors’ report usually:
21. An audit conducted in accordance with generally accepted auditing standards includes
each of the following
except:
22. Which of the following requires an explanatory paragraph in the independent auditors’
report?