Appropriate Audit Inquiries Regarding Estimates Include All of the Following

question 85

Multiple Choice

Appropriate audit inquiries regarding estimates include all of the following except:

• A)Who prepares the estimates?
• B)Why are they prepared?
• C)What data are used?
• D)When are they prepared?

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Definitions:

Goodwill Messages

These are communications aimed at fostering positive relationships and goodwill among individuals or between businesses and customers, often expressing thanks or congratulations.

Claims

Statements or assertions made by someone, usually without immediate proof, but often in support of a hypothesis or argument.

Adjustment Requests

Applications or pleas for a change or modification to a product, service, or policy based on specific needs or issues.

Denial Of Claims

The refusal by an insurance company to honor a request for payment of a claim, based on certain terms and conditions of the policy.