The Extent of Tests of Details of Balances Can Be

question 39

True/False

The extent of tests of details of balances can be reduced when transaction-related audit objectives have been satisfied by tests of controls or substantive tests of transactions.

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Definitions:

U.S. Schools

Educational institutions in the United States, ranging from primary to higher education, governed by federal, state, and local laws and regulations.

Constitutional

Relating to the constitution or composition of something; in a legal context, pertaining to the laws that constitute a government or society.

Double-Blind Studies

Experimental procedures in which neither the subjects nor the experimenters know which individuals are receiving the treatment versus a placebo, to prevent bias.

Placebo Effect

A beneficial effect, produced by a placebo drug or treatment, that cannot be attributed to the properties of the placebo itself, and must therefore be due to the patient's belief in that treatment.