Which of the Following Audit Procedures Is Most Likely to Be

question 58

Multiple Choice

Which of the following audit procedures is most likely to be performed during the planning phase of the audit?

• A)Obtain an understanding of the client's risk assessment process
• B)Identify specific internal control activities that are designed to prevent fraud
• C)Evaluate the reasonableness of the client's accounting estimates
• D)Test the timely cutoff of cash payments and collections

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Definitions:

Magnetic Field

A region around a magnetic material or a moving electric charge within which the force of magnetism acts.

Nuclear Magnetic Resonance

A spectroscopic technique that exploits the magnetic properties of certain atomic nuclei to determine the physical and chemical properties of atoms or the molecules in which they are contained.

Protons in Dichloromethane

Refers to the hydrogen atoms present in the chemical compound dichloromethane, which is an organochloride solvent.

60 MHz

A frequency measurement often associated with the radio frequency range, but in the context of NMR, refers to the operating frequency of some lower field NMR spectrometers.