The Auditor's Responsibility Section of the Standard Unmodified Opinion Audit

question 77

Multiple Choice

The auditor's responsibility section of the standard unmodified opinion audit report states that the audit is designed to

• A)discover all errors and/or irregularities.
• B)discover material errors and/or irregularities.
• C)conform to generally accepted accounting principles.
• D)obtain reasonable assurance whether the statements are free of material misstatement.

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Definitions:

D'Arsonval

Refers to a type of galvanometer used for detecting and measuring small electric currents by the mechanical movement it produces through a magnetic field.

D'Arsonval Meter

A type of ammeter, based on the D'Arsonval galvanometer, used to measure electric current with a moving coil in a magnetic field.

Moving Coil

A type of electromagnetic actuator where a coil within a magnetic field moves when current flows through it, commonly found in loudspeakers and galvanometers.

Ammeter Shunt

A device used to change the full scale value of an ammeter by providing another path for current flow. Most ammeter shunts produce a voltage drop of 50 millivolts when rated current flows through them.