(Test Bank)Principles of Auditing and Other Assurance Services 20th Edition TBChap019

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1、Chapter19AdditionalAssuranceServices:HistoricalFinancialInformation True/FalseQuestions 1.Anauditopiniononcashbasisfinancialstatementsisanexampleofanopiniononfinancialstatementsthatfollowaspecialpurposefinancialreportingframework.  True    False 2.ThebalancesheetforanindividualmaybetitledaStatem

2、entofFinancialCondition.  True    False 3.Theauditorsshouldtakeexceptiontoassetspresentedattheirestimatedcurrentvaluesinpersonalfinancialstatements.  True    False 4.Personalfinancialstatementsmaybecompiledorreviewed,buttheyshouldnotbeaudited.  True    False 19-71Copyright©2016McGraw-HillEducati

3、on.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.5.Acompilationoffinancialstatementprovideslimitedassuranceregardingthefinancialstatements.  True    False 6.Accountantpreparedorcompiledfinancialstatementsmayomitnotedisclosures.  True    False 7

4、.Accountantsmustissueacompilationreportattheconclusionofacompilationunlesstheyhavewithdrawnfromtheengagement.  True    False 8.Theauditorsshouldnotacceptanengagementtoissueacompilationreportonfinancialinformationpresentedinaprescribedform.  True    False 9.Letterstounderwritersshouldnotcontainne

5、gativeassurances.  True    False 10.WhenaU.S.-basedorganizationpreparesfinancialstatementswhichareforuseinanothercountry,aU.S.report,modifiedtoreflecttheaccountingprinciplesoftheothercountry,maybeissued.  True    False  19-71Copyright©2016McGraw-HillEducation.Allrightsreserved.Noreproductionordi

6、stributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.MultipleChoiceQuestions 11.Whichofthefollowingiscorrectrelatingtocompiledfinancialstatements?  A. Acompilationreportmustbeissued.B. Omissionofnotedisclosuresisunacceptable.C. Awrittenagreementwiththeclient(ordinarily,anengagementlette

7、r)isnotrequired.D. Eachpageofthefinancialstatementsshouldhavearestrictionsuchas"RestrictedforManagement'sUseOnly". 19-71Copyright©2016McGraw-HillEducation.Allrightsreserved.Noreproductionordistributionwithoutthepriorwrittenc