Which of the Following Is Not Seen as an Advantage

question 55

Multiple Choice

Which of the following is not seen as an advantage to using generalized audit software (GAS) ?

• A)Auditors can learn the software in a short period of time.
• B)It can be applied to a variety of clients after detailed customizations.
• C)It can be applied to a variety of clients with minimal adjustments to the software.
• D)It greatly accelerates audit testing over manual procedures.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, often due to higher market prices.

Underproduction

The situation where the production of goods or services is below an optimal level or capacity, often leading to shortages.

Nonexcludability

A characteristic of goods or services that makes it impossible to prevent people from consuming or using them, regardless of whether they have paid for them or not.