Assessing Control Risk at Below the Maximum Level Most Likely

question 24

Multiple Choice

Assessing control risk at below the maximum level most likely would involve:

• A)performing more extensive substantive tests with larger sample sizes than originally planned.
• B)reducing inherent risk for most of the assertions relevant to significant account balances.
• C)changing the timing of substantive tests by omitting interim-date testing and performing the tests at year end.
• D)identifying specific internal control activities that are relevant to specific financial statement assertions.

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Definitions:

Utility Reaction Measures

Assessments used to evaluate the practical applicability and impact of training or interventions in the workplace.

Soft Data

Qualitative or subjective information that may be based on opinions, feelings, or perceptions, rather than hard data, which is quantitative and measurable.

Decision-Based Evaluation (DBE) Model

A framework used to evaluate decisions by assessing their outcomes, processes, and impacts.

Evaluation Models

Frameworks or theories designed to assess the effectiveness and impact of programs, policies, or interventions.