With Regards to the Three Major Criminal Cases (United States

question 54

Multiple Choice

With regards to the three major criminal cases (United States v. Natelli (1985) ; United States v. Weiner (1975) ; and ESM Government Securities v. Alexander Grant & Co. (1986) ) , which of the following is not a critical lesson learned from these cases?

• A) Transactions with third parties require special scrutiny by the auditor.
• B) Accounting principles can be relied upon exclusively by the auditor in deciding whether financial statements are fairly presented.
• C) Independence by all individuals involved on the audit engagement is essential.
• D) An investigation by the auditor of the integrity of management is important.

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Definitions:

Hypertext Transfer Protocol (HTTP)

The protocol that allows files to be transferred from a web server so that you can see them on your computer by using a browser.

Uniform Resource Locator (URL)

A website’s unique address; an example is microsoft.com.

Consumer To Consumer (C2C)

An online marketplace where consumers can buy and sell goods and services to each other, typically facilitated by a third-party platform.

Business To Consumer (B2C)

The process of selling products or services directly from businesses to the end-users or consumers.