Accounting
The Accounting Equation.
What is Assets = Liabilities + Equity?
The three components of Audit Risk.
What are (1) inherent risk, (2) control risk, and (3) detection risk?
In a boxplot, outliers have a different RoMM from the rest of the population.
What is false?
China recently landed a spacecraft on this specific part of the moon.
What is the dark side of the moon?
In a T account, an asset is generally increased on this side.
What is the left/debit side?
This legislation established the PCAOB.
What is The Sarbanes Oxley Act (SOX)?
The process of classifying sampling units into separate sub-populations.
What is stratification?
This team most recently won the College Football Playoff Championship.
Who are the Clemson Tigers?
A listing of all accounts used by an entity.
What is a Chart of Accounts?
_____ and _____ comprise Further Audit Procedures.
What are (1) Tests of Control, and (2) Substantive Procedures?
_____ is a proprietary tool that tests journal entries for management override of controls.
What is Optix?
_____ and _____ hosted the most recent Golden Globes awards show.
Who are Sandra Oh and Andy Samberg?
The _____ is prepared as of a specific date, and the _____ is prepared for a particular period.
What are the Balance Sheet and the Income Statement?
The susceptibility of an assertion to a misstatement that could be material, either individually or when aggregated with other misstatements, before consideration of any related controls.
What is Inherent Risk?
_____ is a proprietary tool that uses machine learning techniques and natural language processing to process, highlight, and extract key information from documents.
What is Argus?
In 1849, William Deloitte made his name providing auditing services for this "up and coming" industry.
What is the railways?
The founder of modern accounting.
Who is Luca Pacioli?
The overall objective of the auditor (must include two key phrases).
What is to obtain reasonable assurance about whether financial statements as a whole are free from material misstatement?
22852 classifies audit tools into these three (3) categories.
What are: (1) commercial-off-the-shelf tools, (2) custom-developed tools, and (3) engagement-team specific tools?
This infamous person was ultimately brought down by FBI accountants.
Who is Al Capone?