The Adjustments Arising from the Audit That Were Considered to Be

question 130

Multiple Choice

The adjustments arising from the audit that were considered to be material should be communicated by the auditor to which of the following?

• A) Audit staff.
• B) Management.
• C) Audit committee.
• D) Internal auditors.

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Definitions:

Depression

A deep and prolonged business downturn; the last one occurred in the 1930s.

Velocity of Circulation

The rate at which money moves through the economy, from transactions of individuals and businesses.

Unemployment Rate

A measure of the percentage of the labor force that is jobless and actively looking for employment.

Expansionary Monetary Policy

A policy by central banks to increase the money supply and decrease interest rates to stimulate economic growth.