Normally the Initial Source of Information About Litigation, Claims, and Unrecorded

question 20

Multiple Choice

Normally the initial source of information about litigation, claims, and unrecorded or contingent liabilities is:

• A) management.
• B) the audit committee.
• C) the client's solicitors.
• D) the board of directors.

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Definitions:

Frequency Distribution

An arrangement of data that shows how often each different value occurs in a dataset.

Class

In statistics, a category into which data are grouped for frequency distribution, or in object-oriented programming, a blueprint for creating objects with specific attributes and methods.

Observations

The act of noting and recording something with instruments or senses to gather information.

Relative Frequencies

The ratio of the number of times a particular value occurs to the total number of observations.