The Likelihood That Errors or Fraud May Occur Is Referred

question 83

Multiple Choice

The likelihood that errors or fraud may occur is referred to as:

• A)Risk
• B)Materiality
• C)Control tests
• D)Sampling

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Definitions:

Growth of Imports

The increase in the volume or value of goods and services brought into one country from another over a specific period.

Unskilled Laborers

Workers who perform tasks that require minimal specialized training or education.

Unemployment

A situation where an individual who is capable of working and is actively seeking work is unable to find employment.

Income

The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as a profit from financial investments.