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Acceptable Risk of Overreliance Is the Risk That the Auditor

question 89

True/False

Acceptable risk of overreliance is the risk that the auditor is willing to take in accepting a control as effective when the True population exception rate is greater than the estimated population exception rate.


Definitions:

Quantifier

A logical symbol or word used in mathematics and logic to specify the quantity of specimens in the domain of discourse.

Compound

A substance made from two or more elements chemically bonded together.

Atomic

Pertaining to the smallest component of an element that maintains the chemical properties of that element.

Truth-functional Compound

A compound statement whose truth value is determined by the truth values of its constituent statements through specific logical operations.

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