Control Risk Is a Measure of the Auditor's Expectation That

question 55

Multiple Choice

Control risk is a measure of the auditor's expectation that the internal controls:

• A) will prevent material misstatements from occurring.
• B) will either prevent material misstatements or detect and correct them.
• C) will detect and correct material misstatements.
• D) will neither prevent material misstatements nor detect and correct them.

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Definitions:

Social Selling

The use of online, mobile, and social media to engage customers, build strong customer relationships, and increase sales.

Adaptive Selling

The altering of sales behavior during a customer interaction based on perceived information about the selling situation.

Predictive Analysis

The use of data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data.

Machine Learning

A discipline combining science, statistics, and computer coding to make predictions based on patterns discovered in data.