Which of the Following Is a Benefit of the ASIC

question 23

Multiple Choice

Which of the following is a benefit of the ASIC register of company auditors?

• A)The register contains a code of ethics that auditors must follow.
• B)The register provides assurance of the qualification, level of competence and experience of the auditor.
• C)The register facilitates disciplinary procedures against auditors.
• D)All of the above are benefits.

---

Definitions:

Relevant Range

The relevant range refers to the range of activity or volume over which the assumptions about variable and fixed cost behaviors hold true for management decision-making purposes.

Direct Materials

Raw materials that can be directly traced to the manufacturing of a product and are a part of the final product.

Variable Costs

Variable costs are expenses that change in proportion to the activity of a business, such as costs for raw materials or production.

Cost-volume-profit Analysis

A financial accounting technique that calculates how variations in costs and sales volume impact a firm's profitability.