If Inherent Risk and Control Risk Are Both Assessed as Low

question 29

Multiple Choice

If inherent risk and control risk are both assessed as low, detection risk will be:

• A)the same as audit risk.
• B)medium.
• C)high.
• D)low.

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Definitions:

Demographic Departmentalization

Organizing departments based on demographic criteria such as age, gender, or income level to better target product and service offerings.

Transparency

The practice of being open and honest about company operations, decisions, and actions, ensuring accountability and building trust with stakeholders.