When Planning the Audit,information Is Gathered by All of the Following

question 30

Multiple Choice

When planning the audit,information is gathered by all of the following methods except

• A)completing questionnaires
• B)interviewing management
• C)observing activities
• D)confirming accounts receivable

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Definitions:

Implied Warranty of Merchantability

An unwritten and unspoken guarantee that a product is fit for the general purpose for which it is sold and meets the standard quality and performance expected for such goods.

Seller

An individual or entity that offers goods or services for sale.

Lessee

A person or entity who holds the lease of a property; a tenant.

Merchant

A person or company involved in the trade of goods, services, or commodities for profit.