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Introduction to Auditing

Authored by KEEN LEONG

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University

Used 5+ times

Introduction to Auditing
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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Is Accounting and Auditing the same?

YES

NO

2.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Accounting first or auditing first?

Accounting first the only Auditing

Auditing first then only Accounting

At the same time

3.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which of the following best describes the primary purpose of an audit?

To prepare financial statements for a company

To manage the company's accounting functions

To determine whether the financial statements are free from material misstatements

4.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

The needs for financial statement audit arises when there is a difference between the business owners and the management team responsible for its day-to-day operations

True

False

Not relevant

5.

MULTIPLE CHOICE QUESTION

30 sec • 2 pts

Which of the following is a limitation of an audit?

The auditor's independence

The use of sampling

The qualifications of the auditor

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