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:

Gulf Coast Area

A geographic region along the coastline of the Gulf of Mexico, known for its distinct ecological and cultural attributes.

Pacific Northwest

A geographic region in the northwestern United States and western Canada, known for its diverse landscapes, including forests, mountains, and coastlines.

Tar Sands

Naturally occurring mixtures of sand or clay, water, and an extremely dense and viscous form of petroleum technically referred to as bitumen.

Oil Seep

The seepage of liquid petroleum at the surface.