The Term "Expectation Gap" Refers to the Difference in the Results

question 52

True/False

The term "expectation gap" refers to the difference in the results of an audit between what an auditor expects and what users of the financial statements audited by the auditor expect.

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Definitions:

Objective Criteria

Objective criteria are unbiased standards used to measure or evaluate something.

Subjective Criteria

Standards or principles based on personal feelings, tastes, or opinions rather than objective measures.

BATNA

Stands for Best Alternative To a Negotiated Agreement, the course of action that will be taken by a party engaged in negotiation if the current negotiations fail and an agreement cannot be reached.

Negotiating Party

A negotiating party refers to an individual or group involved in discussions aimed at reaching an agreement or compromise on specific matters.