A Dual-Purpose Test _______

question 28

Multiple Choice

A dual-purpose test _______.

• A)involves the auditors designing a test of controls and a substantive test of details to be performed at the same time on different transactions
• B)involves the auditors designing a test of controls and a substantive test of details to be performed at the same time on the same transaction
• C)involves satisfying informational requests from management and the client's legal counsel simultaneously
• D)involves the auditor being able to bill the client for two tests when only one was performed

---

Definitions:

Directors and Shareholders

Individuals or entities that hold decision-making power (directors) and those who own shares in a company (shareholders).

Plan Approval

The process in which an authoritative body reviews and approves a proposed plan or project.

Shares Exchange

The process where shares of stock are traded or exchanged between parties, typically on a stock exchange platform.

Companies Existence

Refers to the legal recognition and status of a corporation as an entity that is separate and distinct from its owners or shareholders.