The Ultimate Purpose of Assessing Control Risk Is to Contribute

question 314

Multiple Choice

The ultimate purpose of assessing control risk is to contribute to the auditor's evaluation of the:

• A) Factors that raise doubts about the auditability of the financial statements.
• B) Operating effectiveness of internal control activities.
• C) Risk that material misstatements exist in the financial statements.
• D) Possibility that the nature and extent of substantive tests may be reduced.

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Definitions:

Vesicle

A small, fluid-filled sac or cyst within the body or a cell, used to transport materials within the cytoplasm.

Membrane Enclosed Sac

A structure within a cell, bounded by lipids, that contains fluid or smaller organelles, involved in transport, storage, and processing.

9+2 Arrangement

A specific structure found in the microtubules of eukaryotic cilia and flagella, consisting of nine pairs of microtubules surrounding two central microtubules.

Cilia

Hair-like structures on the surface of cells that move in a wave-like manner to transport materials and fluids or aid in mobility.