Which One of the Following Statements Is False Regarding a Review

question 16

Multiple Choice

Which one of the following statements is false regarding a review?

• A) A review involves assessing fraud risk.
• B) A review does not involve obtaining an understanding of the entity's internal control.
• C) A review does not involve testing accounting records by obtaining sufficient appropriate evidence through inspection, observation, confirmation, or examining source documents.
• D) A review does not involve a practitioner obtaining assurance that he or she will become aware of all significant matters that would be investigated in an audit.

---

Definitions:

Dipeptide

A molecule consisting of two amino acids joined by a single peptide bond.

Dehydration Reaction

A chemical reaction in which two molecules are joined together with the removal of water, common in the synthesis of organic compounds.

Hydrolysis Reaction

Splitting of a chemical bond by the addition of water, with the H+ going to one molecule and the OH− going to the other.

Cholesterol

A waxy, fat-like substance found in all cells of the body, important for making hormones, vitamin D, and substances that help digest foods.