Which of the Following Is the Essential Purpose of the Audit

question 14

Multiple Choice

Which of the following is the essential purpose of the audit function?

• A)Detection of fraud.
• B)Examination of individual transactions to certify as to their validity.
• C)Determination of whether the client's financial statement assertions are fairly stated.
• D)Assurance of the consistent application of correct accounting procedures.

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Definitions:

Palpitations

Rapid, strong, or irregular heartbeats that can be felt by the person experiencing them, often associated with stress, anxiety, or other health conditions.

Concentrating

The action of focusing one's attention or mental effort on a specific object, task, or activity.

Visual Material

Any aids or objects used during a presentation or in an educational setting to facilitate understanding and learning, examples include charts, graphs, photographs, and videos.

Understanding

The ability to grasp the meaning, significance, or nature of something.