Where the Fees from an Audit Client Are More Than

question 4

Multiple Choice

Where the fees from an audit client are more than 15% of total fees, the public accounting firm should ensure:

• A) that the audit work is reviewed by an accountant, not a member of the audit team.
• B) adequate quality control procedures are in place and that the audit work is reviewed by an accountant, not a member of the audit team.
• C) that all members of the audit team are independent, both in fact and in appearance.
• D) that adequate quality control procedures are in place.

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Definitions:

White Rat

Commonly used in psychological experiments, particularly in behavioral studies, to understand learning and conditioning.

Generalization

In psychology, the tendency to respond in the same way to different but similar stimuli.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired together; a response that is initially elicited by the second stimulus is eventually elicited by the first stimulus alone.

Spontaneous Recovery

The reappearance of a previously extinguished response after a period without exposure to the conditioned stimulus.