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Because It Is Not Possible to Test All Transactions and Balances

question 77

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Because it is not possible to test all transactions and balances, auditors rely on this to choose and test a limited number of items and transactions and then make conclusions about the balance as a whole.


Definitions:

Ideas Of Reference

The false belief that unrelated events, objects, or other people have a direct personal significance and relevance.

Schizotypal Personality Disorder

A psychological disorder marked by intense fear of social situations, disorganized thinking, paranoia, feelings of unreality, temporary psychotic episodes, and frequently peculiar beliefs.

Antisocial Personality Disorder

Antisocial Personality Disorder is a mental condition where a person consistently shows no regard for right and wrong and ignores the rights and feelings of others.

Key Ingredient

An essential component or factor necessary for achieving a specific result or effect.

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