Which of the Following Is Not One of the Reasons

question 70

Multiple Choice

Which of the following is not one of the reasons that auditors provide only reasonable assurance on the financial statements?

• A) The auditor commonly examines a sample, rather than the entire population of transactions.
• B) Accounting presentations contain complex estimates which involve uncertainty.
• C) Fraudulently prepared financial statements are often difficult to detect.
• D) Auditors believe that reasonable assurance is sufficient in the vast majority of cases.

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Definitions:

Tort Of Nuisance

A legal wrong arising from the use of one's property in a manner that causes annoyance, inconvenience, or damage to others.

Special Damages

Monetary compensation awarded by a court to cover actual expenses and calculable pre-trial losses.

Punish Wrongdoers

The act of imposing a penalty on individuals or entities found to have violated laws or rules.

Contractual Promises

A commitment or guarantee included within a contract that one or both parties agree to carry out.