ASA 720 Requires the Auditor to Read Other Information in Documents

question 50

Multiple Choice

ASA 720 requires the auditor to read other information in documents containing audited financial reports that pertains directly to the financial report and to compare that information to make sure that it corresponds.If there is a material inconsistency, the client should be requested to change the information.If the client refuses, the auditor should:

• A) include an explanatory paragraph in the audit report or withdraw from the engagement.
• B) issue a qualified opinion or withdraw from the engagement.
• C) issue an adverse opinion.
• D) include an emphasis of matter section in the audit report.

Associate vitamins and minerals with their major functions in the body.

Recognize different types of nutrients and their roles in human health.

Determine the role of dietary fiber in nutrition.

Distinguish between different forms of carbohydrates and their storage.

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Definitions:

Seek Further Information

The act of looking or asking for more details or data in order to make better-informed decisions or understandings.

Relative Bargaining Power

An assessment of the comparative influence or leverage that one party has over another in negotiation scenarios.

Tangible Factors

Elements or components that can be physically touched or measured, often considered in decision-making and analysis.

Intangible Factors

Elements that cannot be physically touched or quantified easily but significantly impact decisions or perceptions.