The Auditor Is Deciding Upon Audit Procedures to Be Used

question 9

Multiple Choice

The auditor is deciding upon audit procedures to be used in the audit for a particular cycle (i.e. ,the combination of the four types of tests needed to obtain sufficient appropriate audit evidence) .This type of decision is called

• A)audit risk.
• B)audit strategy.
• C)evidence mix.
• D)detection risk.

---

Definitions:

Demand Curve

A visual chart that illustrates how the demand quantity of a product or service correlates with its price over a specific time frame.

Demand Curves

Graphical representations showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.

Supply Curves

An illustrative chart showing how the price of a product or service correlates with its supply during a certain period.

Law Of Supply

An increase in the price of a product will increase the quantity of it supplied; and conversely for a decrease in price.