A Factor to Consider When Setting Fees for an Engagement

question 75

Multiple Choice

A factor to consider when setting fees for an engagement is the:

• A) personal opinion of the lead auditor on the engagement.
• B) time of all people engaged in the work.
• C) opinion to be rendered as a result of the audit findings.
• D) use of internal auditors.

---

Definitions:

Mole

A unit of measurement in chemistry that quantifies the amount of a substance, specifically 6.022 x 10^23 particles of that substance.

CaCO3

Calcium carbonate, a chemical compound found in rocks as the minerals calcite and aragonite, and is the main component of pearls, as well as marine organisms' shells.

CO2

Carbon Dioxide, a colorless, odorless gas produced by burning carbon and organic compounds and by respiration.

CaO

Calcium oxide, a white, caustic, alkaline crystalline solid commonly known as quicklime, used in cement production and various chemical processes.