When Auditing a Client Who Uses a Database Management System

question 142

Multiple Choice

When auditing a client who uses a database management system, the auditor is principally aware of elevated risk due to the fact that

• A) multiple users can access and update data files.
• B) the accounting information is only in one place.
• C) the database administrator may lack appropriate accounting knowledge.
• D) multiple users could all access the data simultaneously causing a system shutdown.

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Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to offer for sale, holding other factors constant.

Equilibrium Price

The market price at which the supply of an item equals the quantity demanded.

Equilibrium Quantity

The volume of goods or services that are both presented and required at the price where supply meets demand in a market.

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing to purchase at a given price.