Which of the Following Is Correct Concerning the PCAOB's Concept

question 11

Multiple Choice

Which of the following is correct concerning the PCAOB's concept of a significant account?

• A)It is the same as a relevant assertion.
• B)The auditor need only consider significant accounts when controls do not operate effectively.
• C)In deciding whether an account is a significant account one does not consider the effect of internal control.
• D)It is an account for which qualitative materiality considerations are particularly important.

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Definitions:

Principle Sugar

The primary type of sugar that is prevalent or most important within a particular context, such as glucose in human blood.

Nucleotides

Organic molecules that serve as the monomers, or building blocks, of nucleic acids like DNA and RNA, composed of a nitrogenous base, a sugar, and one or more phosphate groups.

Sugars

Sweet-tasting, soluble carbohydrates, essential for energy source in living organisms, and come in various forms including glucose, fructose, and sucrose, commonly found in fruits, vegetables, and honey.

Transmembrane Proteins

Proteins that span the entire membrane of a cell and are involved in a variety of cellular processes including signaling, transport, and enzymatic activities.