Which One of the Following Statements Is True

question 41

Multiple Choice

Which one of the following statements is true?

• A) Management's assertions follow and are closely related to the auditor's objectives.
• B) The auditor's primary responsibility is to find and disclose fraudulent management assertions.
• C) The auditor's objectives follow and are closely related to management assertions.
• D) Assertions about presentation and disclosure deal with whether the accounts have been included in the financial statements at appropriate amounts.

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Definitions:

Chief Executive Officer

The highest-ranking executive in a company or organization, responsible for making major corporate decisions, managing operations, and communicating with the board of directors.

Power Relationships

Defined as the dynamics of authority, control, and influence among individuals and groups within a society or organization.

Scientists

Scientists are professionals who conduct research, perform experiments, and make observations to advance knowledge in various fields of science, including the natural, physical, and social sciences.

Nonprofit Organizations

Entities that operate for a collective, public, or social benefit, rather than to generate profit for owners or investors.