Multiple Choice
Which of the following is true regarding the financial statement assertions?
A) All assertions can be proved using only substantive procedures,but it would be too costly.
B) Some assertions are virtually impossible to prove without some evaluation of control effectiveness.
C) Some assertions can be proved using only an evaluation of control effectiveness.
D) The evaluation of control effectiveness is only used because it is more efficient than using only substantive procedures.
Correct Answer:
Verified
Correct Answer:
Verified
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