When Testing Controls, _______

question 30

Multiple Choice

When testing controls, _______.

• A)the auditor must be alert for evidence that the control might be effective, even if only once or twice
• B)the auditor must be alert for evidence that the control might be ineffective, even if only once or twice
• C)the auditor should delegate audit procedures to the internal auditors where possible
• D)it is possible for the auditor to rely on the opinion of the prior auditor

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Definitions:

Maturity Value

The total amount payable to an investor at the end of a fixed term investment, including principal and interest.

Annual Growth Rate

The yearly rate at which an investment or part of the economy grows.

Town's Population

The number of people living in a particular town.

Grow

To increase in size, amount, or value over a period of time.