Which of the Following Occurrences Would Be Least Likely to Warrant

question 116

Multiple Choice

Which of the following occurrences would be least likely to warrant further audit attention for the auditor?

• A) deviations from client's established control procedures
• B) deviations from client's budgeted values
• C) monetary misstatements in populations of transaction data
• D) monetary misstatements in populations of account balance details

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Definitions:

Price-earnings Ratio

A financial metric that measures a company's market share price relative to its earnings per share, indicating investor sentiment about future earnings.

Times

A financial metric used to compare two quantities or to indicate frequency. In business, it often refers to multiples or ratios used in financial analysis.

Total Assets

The sum of all assets owned by an entity, representing the total resources at its disposal.

Total Liabilities

The cumulative amount of all debts and financial obligations a company owes to outside parties.