While Performing a Substantive Test of Details During an Audit,the

question 44

Multiple Choice

While performing a substantive test of details during an audit,the auditor determined that the sample results supported the conclusion that the recorded account balance was materially misstated.It was,in fact,not materially misstated.This situation illustrates the risk of:

• A)Incorrect acceptance.
• B)Incorrect rejection.
• C)Assessing control risk too high.
• D)Assessing control risk too low.

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Definitions:

PhMgCl

Phenylmagnesium chloride, a Grignard reagent used in organic synthesis to form carbon-carbon bonds.

Mechanism

Describes the step-by-step process by which reactants are converted into products in a chemical reaction.

Grignard Reagent

An organomagnesium compound used in chemistry for creating new carbon-carbon bonds.

Alkyl Halides

Organic compounds containing a halogen atom(X) bonded to an sp3-hybridized carbon atom, used in many chemical reactions and synthesis.