The Failure of an Auditor to Disclose the Possible Obsolescence

question 287

True/False

The failure of an auditor to disclose the possible obsolescence of a firm's major product is a judgment call and not an ethical issue.

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Definitions:

Carpal

Refers to the bones forming the wrist which connect the hand to the forearm.

Tarsal

Relating to the bones in the foot located between the ankle and metatarsal bones, contributing to the foot's structure and movement.

Phalanges

The bones in the fingers and toes of humans and other vertebrates.

Achondroplasia

A genetic disorder affecting bone growth, leading to dwarfism characterized by short limbs, a normal-sized torso, and an enlarged head.