Which of the Following Is NOT One of the Major

question 7

Multiple Choice

Which of the following is NOT one of the major differences between financial and performance auditing?

• A) The financial audit is oriented to the past, whereas a performance audit concerns performance for the future.
• B) Financial audits deal with the information in the financial statements, whereas performance audits are concerned with the information in the ledgers.
• C) The financial audit is distributed to many readers, whereas the performance audit report goes to a few managers.
• D) Financial audits are limited to matters that directly affect the financial statements, whereas performance audits cover any aspect of efficiency and effectiveness.

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Definitions:

Physiological Effect

The impact of an external factor on the physical and biological function of an organism.

Stress Relationship

The dynamic connection between stress and its impact on personal and professional relationships.

Different People

Individuals possessing diverse characteristics, backgrounds, perspectives, or beliefs.

Probability Of Illness

Refers to the likelihood or risk of an individual contracting a disease or health condition based on various factors like genetics, environment, and behavior.