Which of the Following Behaviors Is LEAST Important for an Auditor

question 47

Multiple Choice

Which of the following behaviors is LEAST important for an auditor to exhibit?

• A) Remaining calm throughout the audit
• B) Displaying honesty and forthrightness
• C) Adhering to the original audit plan
• D) Working in a planned and systematic manner

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Definitions:

Equity Method

An accounting technique used to record investments in which the investor has significant influence over the investee but does not control it, usually between 20% and 50% ownership.

Investment Account

A financial account holding securities, cash, and other assets managed by an investment advisor or the investor themselves, aimed at achieving long-term financial goals.

Retained Earnings

The amount of net income left over for the business after it has paid out dividends to its shareholders, often reinvested in the business or used to pay down debt.

Marketable Securities

Financial instruments that can be easily converted into cash, often including stocks, bonds, and other securities traded on public exchanges.