Auditors Have Found That Generally the Most Efficient and Effective

question 76

Multiple Choice

Auditors have found that generally the most efficient and effective way to conduct audits is to

• A) obtain complete assurance about the correctness of each class of transactions affecting the account.
• B) obtain some combination of assurance for each class of transactions and for the ending balance in the related accounts.
• C) obtain assurance about the ending balance of the account only.
• D) verify each entry that was made into an account.

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Definitions:

False Memory Syndrome

A condition in which a person's identity and relationships are affected by strongly believed but false memories.

Directed Forgetting

A procedure where subjects are instructed to forget some information but not other information

Mnemonics

memory aids, especially those techniques that use vivid imagery and organizational strategies to enhance the recall of information.

Method of Loci

A memorization technique where one associates information with specific physical locations.