The Likelihood That Errors or Fraud May Occur Is Referred

question 138

Multiple Choice

The likelihood that errors or fraud may occur is referred to as:

• A)Risk
• B)Materiality
• C)Control Tests
• D)Sampling

---

Definitions:

Component Reliability

A measure of the likelihood that a component will perform its required function under specified conditions for a certain period without failure.

Low-Intensity Bulbs

Light bulbs that emit a lower level of brightness compared to standard lighting options, often used to save energy.

FR(%)

An abbreviation possibly referring to Financial Ratio or Failure Rate, both of which quantify different business or operational metrics.

MTBF

Mean Time Between Failures, a measure used to predict the reliability and durability of a product or system.