The Ultimate Purpose of Assessing Control Risk Is to Contribute

question 877

Multiple Choice

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

• A) Specific internal control activities are not operating as designed.
• B) The collective effect of the control environment may not achieve the control objectives.
• C) Tests of controls may fail to identify activities relevant to assertions.
• D) Material misstatements may exist in the financial statements.

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Definitions:

Samuel L. Jackson

An accomplished American actor and film producer known for his roles in numerous films and distinctive voice.

George Clooney

An American actor, filmmaker, and activist known for his work in television and film, as well as his involvement in various social and political causes.

GRPs

Gross Rating Points, a measure used in advertising to indicate the size of an ad campaign's audience across various media platforms.

CPM

An advertising metric that stands for "Cost Per Thousand" impressions, indicating the price of 1,000 advertisement views on a webpage.