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Match the Definition with Its Associated Term

Question 101

Matching

Match the definition with its associated term. Each term can be used once, more than once or not at all.

Premises:

Responses:

practice monitoring by a CPA firm for another CPA firm

auditing standards

a report that is filed when a company wishes to issue new securities

due professional care

requires annual inspections of accounting firms auditing more than 100 public companies

state regulation

assists in providing investors with reliable information

Form S-1

an organizational structure where professional services are provided by one or more shareholders

limited liability company

oversees accounting firms who audit public companies

peer review

a report filed to indicate a significant event

Code of Professional Conduct

requires a registration statement

Form 8-K

fulfilling duties diligently and carefully

quality control standards

the grantor of the right to practice public accounting

Form 10-K

setsprofessional standards and rules for members

AICPA

an organizational structure where the owners art taxed like a partnership and have limited personal liability

limited liability partnership

the methods used to ensure the firm meets its professional responsibilities to clients and others

PCAOB

1933 Securities Act

professional corporation

IAASB

Securities Exchange Commission

1934 Securities Act

Premises:

practice monitoring by a CPA firm for another CPA firm

a report that is filed when a company wishes to issue new securities

requires annual inspections of accounting firms auditing more than 100 public companies

assists in providing investors with reliable information

an organizational structure where professional services are provided by one or more shareholders

oversees accounting firms who audit public companies

a report filed to indicate a significant event

requires a registration statement

fulfilling duties diligently and carefully

the grantor of the right to practice public accounting

setsprofessional standards and rules for members

an organizational structure where the owners art taxed like a partnership and have limited personal liability

the methods used to ensure the firm meets its professional responsibilities to clients and others

Responses:

auditing standards

due professional care

state regulation

Form S-1

limited liability company

peer review

Code of Professional Conduct

Form 8-K

quality control standards

Form 10-K

AICPA

limited liability partnership

PCAOB

1933 Securities Act

professional corporation

IAASB

Securities Exchange Commission

1934 Securities Act

Correct Answer:

Premises:

Responses:

auditing standards

due professional care

state regulation

Form S-1

limited liability company

peer review

Code of Professional Conduct

Form 8-K

quality control standards

Form 10-K

AICPA

limited liability partnership

PCAOB

1933 Securities Act

professional corporation

IAASB

Securities Exchange Commission

1934 Securities Act