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:

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a comprehensive classification and diagnostic tool used by mental health professionals.

Social Anxiety Disorder

A mental health condition involving significant fear and avoidance of social interactions.

Trauma-and-Stressor Related-Disorder

A category of mental health disorders in which a significant stressor or traumatic event plays a central role in the onset or exacerbation of the disorder.

Duration Criterion

A specific time period that symptoms must be present for a condition or disorder to be diagnosed, ensuring consistency and accuracy in diagnoses.