This Concept Means That the Auditors Should Not Automatically Assume

question 13

Multiple Choice

This concept means that the auditors should not automatically assume that their clients are honest, but that they (the auditors) must have a questioning mind and a persistent approach to evaluating evidence for possible misstatements.

• A)Independence
• B)Integrity
• C)Due care
• D)Professional skepticism

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Definitions:

Cash

A form of currency that includes coins and currency notes, used as a medium of exchange.

Accounts Payable

A liability on a company's balance sheet representing the amounts due to suppliers by the business.

Cash

Money in the form of coins or notes that is readily available for transactions.

Initial Investments

The initial amount of money used to purchase an asset or start a business.