Questions from Auditing and Assurance

Q: Which of the following tax sources are considered primary authorities?

Which of the following tax sources are considered primary authorities? a. Tax services b. Tax Court memorandum decisions c. Revenue Procedures d. IRS publications e. Temporary Treasury Regulations...

Q: Joe Brock owns 10,000 of the 60,000 outstanding

Joe Brock owns 10,000 of the 60,000 outstanding shares of Big Corporation; Leslie Ross own 20,000 shares; Mark Jones and his twin brother Sam each own 5,000 shares; and about 300 other shareholders ow...

Q: On January 1, year 1, Melvin Corporation promises to “

On January 1, year 1, Melvin Corporation promises to “unconditionally” transfer a building that cost $100,000 (appraised recently at $300,000) to the Vivian Company on January 1, year 2 for a boat she...

Q: Access the International Federation of Accountants website (www.ifac.

Access the International Federation of Accountants website (www.ifac.org/IAASB/), and briefly describe the following two International Auditing Standards: ISA 500 and ISA 505.

Q: Locate the Audit & Attest link and click on Clarified Statements on

Locate the Audit & Attest link and click on Clarified Statements on Auditing Standards, and determine the AU section number that discusses the forms of confirmations

Q: After getting selected in Disney’s training program, Minsu became a rock

After getting selected in Disney’s training program, Minsu became a rock star. His family paid $22,000 to get Minsu trained. How much of these expenses paid by his family are deductible? Reference the...

Q: Locate the Preparation, Compilation & Review Standards, and locate SSARS

Locate the Preparation, Compilation & Review Standards, and locate SSARS No. 21 to explain briefly the scope of this standard. Locate the Preparation, Compilation & Review Standards, and locate SSARS...

Q: Under Treas. Reg. §1.6011-4,

Under Treas. Reg. §1.6011-4, how is a reportable transaction described?

Q: Access the AICPA.org website and locate the ASB under auditing

Access the AICPA.org website and locate the ASB under auditing and attestation standards. Examine the approved highlights of the ASB. What were the last three auditing standards issued by the ASB?

Q: Access the PCAOB website (www.pcaobus.org), and

Access the PCAOB website (www.pcaobus.org), and list two new or proposed auditing standards issued by the PCAOB