As Part of Understanding Internal Control, an Auditor Is Not

question 963

Multiple Choice

As part of understanding internal control, an auditor is not required to:

• A) Consider factors that affect the risk of material misstatement.
• B) Ascertain whether internal controls have been implemented.
• C) Identify the types of potential misstatements that can occur.
• D) Obtain knowledge about the operating effectiveness of internal control.

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Definitions:

Polypeptide Chain

A polypeptide chain is a series of amino acids linked together by peptide bonds, and these chains fold into specific shapes to form proteins.

Completed Polypeptide Chain

A sequence of amino acids linked by peptide bonds, forming a protein molecule after translation and folding processes are completed.

Ribosome

A cell organelle that functions as the site of protein synthesis in the cytoplasm.

Stop Codon

A nucleotide triplet within mRNA that signals the termination of protein synthesis during translation.