The Risk of Incorrect Acceptance of an Account Balance as Correct,when

question 21

True/False

The risk of incorrect acceptance of an account balance as correct,when in fact it is not correct,bears directly on the effectiveness of an audit.

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Definitions:

Great Compromise

An agreement during the Constitutional Convention of 1787, creating a two-house Congress to balance the interests of big and small states.

Three-Fifths Compromise

A constitutional agreement reached during the 1787 United States Constitutional Convention, allowing three-fifths of the slave population to be counted for determining direct taxation and representation in the House of Representatives.

Southern Planters

Southern Planters were wealthy farmers in the southern United States who owned large estates and relied extensively on enslaved labor for agricultural production before the Civil War.

New Jersey Plan

A proposal at the Constitutional Convention of 1787 advocating for equal representation of each state in Congress, regardless of the state's population size.