Which One of the Following Items Would NOT Normally Be

question 93

Multiple Choice

Which one of the following items would NOT normally be included, in whole or in part, in the auditor's permanent file on a client?

• A) The company's constitution
• B) Organisation charts and internal control questionnaires
• C) The audit program
• D) Analyses of accounts such as long- term debt and shareholders' equity

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Definitions:

Natural Monopoly

A natural monopoly occurs when a single firm can supply a market's entire demand for a good or service at a lower cost than any potential competitor, often due to high fixed or startup costs.

Antitrust Law

Legislation aimed at preventing anti-competitive practices, monopolies, and fostering fair competition in the market.

Product Price

The financial cost at which a good or service is sold to consumers in the market.

Deregulation

The removal of most or even all of the government regulation and laws designed to supervise an industry. Sometimes undertaken to combat regulatory capture.