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.

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Definitions:

Unlimited Debate

A procedure, notably in the U.S. Senate, that allows for extended discussion on a bill without a fixed time limit, often related to filibustering.

Bill Passage

The process by which a proposed piece of legislation is officially approved and becomes law.

Leadership Structure

The organization of individuals who make decisions and direct efforts within an entity.

Senate

The upper chamber of the United States Congress, with two senators representing each state, participating in legislative processes.