Audit Evidence Used to Support an Audit Opinion Is Obtained

question 82

True/False

Audit evidence used to support an audit opinion is obtained soley from audit procedures.

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Definitions:

Nonconforming Goods

Products delivered by a seller that do not meet the specifications or requirements as stated in a contract of sale.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States.

Breach of Contract

The violation of any of the agreed-upon terms and conditions of a binding contract. This breach could involve not performing on time, not performing in accordance with the terms of the agreement, or not performing at all.

Impracticable

Not possible to do or carry out in practice, either due to technical, legal, or other constraints.