Which Statement Is Correct

question 24

Multiple Choice

Which statement is correct?

• A)Assertions affected by highly objective estimates usually require direct tests of balances.
• B)The materiality of the account totally dictates the substantive procedures to be performed.
• C)The evidence the auditor obtains from risk assessment procedures does not influence the substantive procedures to be performed.
• D)The extent and results of control tests performed by the auditor will influence the substantive procedures to be performed.

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Definitions:

Core Principles

Fundamental beliefs or values that are at the heart of a system, organization, or philosophy.

Professional Selling

The process of personally promoting products or services to clients in a way that adds value and aims to generate a profitable outcome.

Needs

Needs are essential requirements or desires that drive individuals to take actions or make decisions in pursuit of satisfaction or fulfillment.

Wants

Needs that are learned by a person.