It Is Possible That Management May Have Programs Designed to Deter

question 110

True/False

It is possible that management may have programs designed to deter, prevent, and to detect fraud. Auditor should therefore consider whether such antifraud programs mitigate the risk of material misstatement due to fraud.

---

Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price in a market.

Car Market

The industry related to the manufacturing, selling, and buying of automobiles.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; every good or service is distributed to yield the highest aggregate utility.

Willingness To Pay

The maximum amount a consumer is prepared to spend to acquire a good or service.