Which of the Following Is Accurate,as Indicated in the Principles

question 2

Multiple Choice

Which of the following is accurate,as indicated in the principles underlying an audit?

• A)Management is expected to provide the auditors with all needed evidence prior to the beginning of audit work.
• B)An auditor is unable to obtain absolute assurance that the financial statements are free from material misstatement.
• C)Auditors are responsible for having appropriate competence to perform the audit without the assistance of outside specialists.
• D)Management is responsible for preparing accurate financial statement amounts,while auditors are responsible for auditing those amounts and for preparing note disclosures related to those amounts.

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Definitions:

Qualitative Characteristics

Aspects that contribute to the usefulness of financial information, including its relevance and reliability.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, presenting the financial performance and position at a given period.

Qualitative Characteristics

The attributes that make the information provided in financial statements useful to users, such as relevance and reliability.