Audit Evidence Is Usually Considered Sufficient When

question 50

Multiple Choice

Audit evidence is usually considered sufficient when

• A)it is reliable.
• B)there is enough quantity to afford a reasonable basis for an opinion on financial statements.
• C)it has the qualities of being relevant, objective, and free from unknown bias.
• D)it has been obtained through random selection methods.

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Definitions:

Parallel

Lines or planes that are the same distance apart over their entire length and never meet.

Lines

Straight one-dimensional figures extending infinitely in both directions, characterized by minimal length but no breadth or width.

Slope Formula

The slope formula, \(m = (y_2 - y_1) / (x_2 - x_1)\), calculates the steepness, incline, or grade of a linear equation's graph.

Slope

A measure of the steepness or incline of a line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.