Which Statement Is Not True

question 10

Multiple Choice

Which statement is not true?

• A)Auditors must maintain independence.
• B)IT auditors attest to the integrity of the computer system.
• C)IT auditing is independent of the general financial audit.
• D)IT auditing can be performed by both external and internal auditors.

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Definitions:

Factor Prices

The prices of the inputs used in the production process, such as labor, capital, and land.

Output

The total amount of goods and services produced by a business, industry, or economy.

Total Variable Costs

The sum of expenses that vary with production volume, including costs for raw materials, labor, and utilities directly involved in the production process.

Decreasing Output

A situation where a firm produces less output over time, often due to rising costs or decreased demand.