Which of the Following Is Not a Standard Contained in Both

question 113

Multiple Choice

Which of the following is not a standard contained in both the Attestation Standards and Generally Accepted Auditing Standards?

• A) The examination is to be performed by a person having adequate technical training.
• B) An independence in mental attitude is to be maintained.
• C) Sufficient evidence is to be obtained.
• D) The practitioner must obtain a sufficient understanding of the client's internal control.

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Definitions:

Product Life Cycle

The progression of a product through several stages from introduction to growth, maturity, and decline.

Trialability

The extent to which a new product or service can be experimented with on a limited basis before making a purchase decision.

Product Life Cycle

The progression of a product through different stages from introduction to growth, maturity, and eventual decline in the market.

Fad Products

Items that become extremely popular in a short period of time but lose their appeal just as quickly.