Which of the Following Statements Pertaining to the Audit Function

question 35

Multiple Choice

Which of the following statements pertaining to the audit function is incorrect?

• A) The primary responsibility for the information in the financial statements lies with the auditors.
• B) The audit report describes the auditor's opinion of the fairness of the financial statements.
• C)An audit ensures that the financial statements conform to generally accepted accounting principles.
• D)The auditor does not examine every transaction an entity incurreD.The primary responsibility for the information in the financial statements lies with the management.

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Definitions:

Voluntary

Actions or decisions made based on one's free will or choice, not compelled by external forces.

Abstract Reasoning

The process of thinking about ideas and concepts that are not physically present, involving the ability to analyze and manipulate mental constructs.

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body, overseeing both voluntary actions and involuntary processes.

Sensory Stimulation

Exposure to stimuli that affects one of the five senses, used to enhance learning, healing, and general well-being.