Multiple Choice
The ultimate purpose of a substantive test is to _______.
A) ensure that all controls are functioning properly
B) obtain absolute assurance that an assertion is presented fairly in all material respects
C) obtain reasonable assurance that an assertion is presented fairly in all material respects
D) guarantee that no error or fraud exists in the financial statements
Correct Answer:
Verified
Correct Answer:
Verified
Q48: An important aspect of selecting a sample
Q49: High levels of assurance mean _.<br>A)lower levels
Q50: The choice of using audit sampling vs.audit
Q51: Sometimes an audit population may be sufficiently
Q52: Probability proportionate to size sampling _.<br>A)should only
Q54: In _ the auditor estimates the audited
Q55: At the outset of substantive testing, the
Q56: The population consists of _.<br>A)all accounts in
Q57: Risk of incorrect rejection is defined as
Q58: Audit sampling is when _.<br>A)the auditor selects