The Auditing Standards Suggest That Management Representations Are Acceptable Audit

question 33

Multiple Choice

The auditing standards suggest that management representations are acceptable audit evidence where other sufficient appropriate audit evidence:

• A) cannot reasonably be expected to exist.
• B) can reasonably be expected to exist.
• C) has not been furnished to the auditor.
• D) management representations are never appropriate audit evidence for financial statement assertions.

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Definitions:

E1 Reactions

A type of unimolecular nucleophilic substitution reaction where the rate-determining step involves the loss of a leaving group to form a carbocation intermediate.

Alkyl Halides

Organic compounds containing a halogen atom (chlorine, bromine, fluorine, or iodine) bonded to an alkyl group.

Rearrangements

A type of chemical reaction in which the structure of a molecule is rearranged to form a new structure.

Rate

A measure of how fast or slow a chemical reaction occurs.