Module A Other Public Accounting Services
Multiple Choice Questions
1. The AICPA Assurance Services Executive Committee identified five megatrends that can
affect public accounting firms'' business. Which of the following is NOT one of the megatrends
they identified?
A. Information Technology
B. The shift from the industrial age to the knowledge age
C. Globalization
D. Merging of corporations creating fewer audit opportunities
,2. Assurance services are defined as independent professional services that
A. establish criteria for effective measurement of business activity.
B. improve the quality of information, or its context, for decision makers.
C. attest to the adequacy of controls over business operations.
D. develop efficient and effective accounting systems to ensure compliance with accounting
standards and policy.
3. Many individuals are apprehensive about using the Internet to purchase items. This
apprehension mainly arises from users' concerns about
A. the reliability of computer technology.
B. the time delays in Internet purchases.
C. a lack of security for information transmitted over the Internet.
D. the lack of CPA involvement in Internet company financial information.
,4. The phrase "Trust services" refers to
A. WebTrust and SysTrust Services.
B. XBRL and SysTrust Services.
C. WebTrust and XBRL Services.
D. all AICPA designated assurance services.
5. Which of the following is NOT a principle of Trust Service engagements?
A. Security from unauthorized use
B. Availability of the system, products, or services
C. Proficiency in preparing transactions
D. Confidentiality of information
, 6. What is the appropriate name for an assurance service provided by a CPA regarding a
client's commercial Internet site with reference to the principles of privacy, security,
processing integrity, availability, and confidentiality?
A. WebTrust
B. SysTrust
C. XBRL
D. WebSecure
7. Extensible Business Reporting Language (XBRL) provides a computer readable identifying
tag for each individual item of data. The advantages of XBRL include all of the following
except
A. increases the speed of handling of financial data.
B. reduces the chance of error.
C. improves the full disclosure of financial information.
D. permits automatic checking of information.
Multiple Choice Questions
1. The AICPA Assurance Services Executive Committee identified five megatrends that can
affect public accounting firms'' business. Which of the following is NOT one of the megatrends
they identified?
A. Information Technology
B. The shift from the industrial age to the knowledge age
C. Globalization
D. Merging of corporations creating fewer audit opportunities
,2. Assurance services are defined as independent professional services that
A. establish criteria for effective measurement of business activity.
B. improve the quality of information, or its context, for decision makers.
C. attest to the adequacy of controls over business operations.
D. develop efficient and effective accounting systems to ensure compliance with accounting
standards and policy.
3. Many individuals are apprehensive about using the Internet to purchase items. This
apprehension mainly arises from users' concerns about
A. the reliability of computer technology.
B. the time delays in Internet purchases.
C. a lack of security for information transmitted over the Internet.
D. the lack of CPA involvement in Internet company financial information.
,4. The phrase "Trust services" refers to
A. WebTrust and SysTrust Services.
B. XBRL and SysTrust Services.
C. WebTrust and XBRL Services.
D. all AICPA designated assurance services.
5. Which of the following is NOT a principle of Trust Service engagements?
A. Security from unauthorized use
B. Availability of the system, products, or services
C. Proficiency in preparing transactions
D. Confidentiality of information
, 6. What is the appropriate name for an assurance service provided by a CPA regarding a
client's commercial Internet site with reference to the principles of privacy, security,
processing integrity, availability, and confidentiality?
A. WebTrust
B. SysTrust
C. XBRL
D. WebSecure
7. Extensible Business Reporting Language (XBRL) provides a computer readable identifying
tag for each individual item of data. The advantages of XBRL include all of the following
except
A. increases the speed of handling of financial data.
B. reduces the chance of error.
C. improves the full disclosure of financial information.
D. permits automatic checking of information.
