ACCT 562 WEEK 1 QUIZ ANSWERS.

ACCT 562 WEEK 1 QUIZ ANSWERS




(TCO A) Successful operational auditors possess all the following
Question : attributes except:

Student Answer:
Ability to spot trouble areas

Chase elephants, not mice

Subject matter expertise in systems

Communication skills


Instructor Reider, Introduction, page xv
Explanation:


Points Received: 3 of 3

Comments:



Question 2. Question : (TCO A) _____ and converting cash allows a business to survive.

Student Answer:
Customer service

Debt management

Employee satisfaction

None of the above


Instructor Reider, Chpt 1, page 3
Explanation:


Points Received: 3 of 3

Comments:



Question 3. Question : (TCO A) Operational review phases are conducted in the
following order:

, Student Answer:
Survey, Work Programs, Planning, Field Work, and Report

Survey, Planning, Work Programs, Field Work, and Report

Planning, Survey, Work Programs, Field Work, and Report

Survey, Field Work, Planning, Work Programs, and Report
Instructor Reider, Chpt 1, page 17
Explanation:


Points Received: 3 of 3

Comments:



Question 4. Question : (TCO A) The Three E's of operational auditing include:

Student Answer:
Economy

Efficiency

Effectiveness

All of the above


Instructor Reider Chpt 1, page 12
Explanation:


Points Received: 3 of 3

Comments:



Question 5. Question : (TCO F) Which of the following best describes the objective of a
fraud examination?

Student Answer:
Make recommendations to management about how to
prevent fraud.

Determine whether a crime has been committed, and if so,
who is responsible.

Express an opinion on the guilt or innocence of a suspect.

Determine whether financial statements are free of
misstatements due to fraud.


Instructor Wells, Chpt 1, page 4
Explanation: