Extensive Tests of Details for an Income Statement Account Is

question 25

Multiple Choice

Extensive tests of details for an income statement account is least likely to be required when:

• A)analytical procedures reveal some unexpected fluctuations.
• B)detection risk is high.
• C)control risk is high.
• D)inherent risk is high.

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Definitions:

Worldview II

A person’s or group’s comprehensive outlook or perspective on life and the world around them, distinguished here as a second version or interpretation.

Operationalization

The process of defining the measurement of a phenomenon that is not directly measurable, by assigning it a quantitative value.

Tenacity

The quality or state of being very determined and persistent in pursuing goals.

Intuition

An immediate understanding of knowledge without the need for conscious reasoning.