Auditors Should Develop a Written Audit Program So That

question 78

Multiple Choice

Auditors should develop a written audit program so that:

• A)All material transactions will be included in substantive testing.
• B)Substantive testing performed prior to year-end will be minimized.
• C)The procedures will achieve specific audit objectives related to specific management assertions.
• D)Each account balance will be tested under either a substantive test or a test of controls.

---

Definitions:

Medicare

A federal health insurance program in the United States for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease.

Medicaid

A health care program that assists low-income families or individuals in paying for long-term medical and custodial care costs.

Equal Distribution

The process of dividing or spreading something out evenly among multiple recipients or areas.

Health Care Economics

A branch of economics concerned with issues related to efficiency, effectiveness, value, and behavior in the production and consumption of health and healthcare.