ASA 500 Requires Auditors to Accumulate Sufficient Appropriate Evidence to Support

question 14

Multiple Choice

ASA 500 requires auditors to accumulate sufficient appropriate evidence to support the opinion issued.Because of the nature of audit evidence, it is:

• A) likely the auditor will be completely convinced that the opinion is correct.
• B) unlikely the auditor will arrive at a conclusion.
• C) unlikely the auditor will be completely convinced that the opinion is correct.
• D) likely that the auditor would change his or her mind about the opinion if he or she took the time to gather additional evidence.

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Definitions:

Hepatopancreatic Sphincter

A muscular valve controlling the flow of digestive juices from the liver and pancreas into the small intestine.

Pancreatic Juice

This is a digestive fluid secreted by the pancreas composed of enzymes and bicarbonate ions that aid in the digestion of proteins, fats, and carbohydrates in the small intestine.

Dentin

A hard, dense tissue forming the bulk of a tooth beneath the enamel, protecting the inner pulp and transmitting nerve signals.

Hardest Substance

Diamond, recognized as the hardest naturally occurring material on the Mohs scale of mineral hardness.