While Performing a Substantive Test of Details During an Audit

question 28

Multiple Choice

While performing a substantive test of details during an audit, the auditor determined that the sample results supported the conclusion that the recorded account balance was not materially misstated. It was, in fact, materially misstated. This situation illustrates the risk of

• A) incorrect rejection.
• B) incorrect acceptance.
• C) assessing control risk too low.
• D) assessing control risk too high.

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Definitions:

Organic Subunits

Basic building blocks of organic molecules, which include structures like amino acids, nucleotides, and monosaccharides.

Protocells

Early, simple, cell-like structures that are considered precursors to true cells, playing a role in theories of the origin of life.

Genome

An organism’s complete set of genetic material.

Hydrothermal Vents

Gaps on the ocean floor releasing warm water abundant in minerals, which foster distinct biological communities.