Which of the Following Is a Correct Statement Regarding Audit

question 87

Multiple Choice

Which of the following is a correct statement regarding audit evidence?

• A) A large sample of evidence provided by an independent party is always considered persuasive evidence.
• B) A small sample of only one or two pieces of highly appropriate evidence is always considered persuasive evidence.
• C) The auditor must obtain a sufficient amount of relevant and reliable evidence to form an opinion on the fairness of the financial statements.
• D) Evidence is usually more reliable for balance sheet accounts when it is obtained within six months of the balance sheet date.

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Definitions:

Race Relations

The interactions and dynamics between people of different racial backgrounds in a given society.

Social Security

A government program that provides financial assistance to people with an inadequate or no income, especially the elderly, disabled, and families with dependent children.

Unmarried Women

Refers to women who are not legally married, highlighting their social, legal, and economic status which varies historically and culturally.

Nonwhites

A term used to describe individuals not classified as white, often used in the context of discussing racial and ethnic diversity and disparities.