When Determining the Inherent Risk Related to an Account Balance

question 14

Multiple Choice

When determining the inherent risk related to an account balance, an auditor theoretically does not explicitly consider the:

• A)liquidity of the account.
• B)degree of management estimation involved in determining the proper account balance.
• C)related internal control policies and procedures.
• D)complexity of calculations involved.

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Definitions:

Discussing Diagnosis

The process of communicating and explaining a medical condition or disease to a patient, often including details about symptoms, prognosis, and available treatments.

Malpractice

Professional negligence by act or omission by a healthcare provider in which care provided deviates from accepted standards, leading to harm to a patient.

Recorded Documentation

The act of keeping written or electronic records of activities, observations, or events.

Nurse Supervisor

A registered nurse who oversees the daily activities of nursing staff and ensures the quality of patient care in a healthcare setting.