The Use of the Term "Reasonable Assurance" Is Intended to Indicate

question 46

Multiple Choice

The use of the term "reasonable assurance" is intended to indicate that an audit cannot be expected to

• A)completely eliminate the possibility that a material error or fraud exists.
• B)consider or search for minor errors.
• C)be compliant with the generally accepted accounting principles for every account.
• D)provide assurance of no material errors or irregularities to investors who are using the financial statements for investment decisions.

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