Which One of the Following Is False Regarding the Adequacy

question 160

Multiple Choice

Which one of the following is false regarding the adequacy of disclosures in a financial statement audit?

• A)The auditor should consider matters for disclosure while gathering evidence during the course of the audit,not just at the end of the audit.
• B)One of the key disclosures is a summary of significant accounting policies used by the company.
• C)Disclosures should be limited to only checklist items.
• D)The auditor's report does not specifically cover the statements made by management in the "Management Discussion and Analysis" (MD&A)section of the annual report.

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Definitions:

Nonindustrialized Countries

Countries that are less economically developed and not yet significantly involved in industrial processes.

Immaturity

denotes a lack of full development, whether in a biological, psychological, or emotional capacity.

Risky Behavior

Actions or behaviors that can potentially lead to harm or negative consequences for oneself or others.

FSH

Follicle-stimulating hormone, a gonadotropic hormone produced by the anterior pituitary gland that promotes the growth of ovarian follicles in females and spermatogenesis in males.