The Auditor Normally Does Not Need to Test the Accuracy

question 56

Multiple Choice

The auditor normally does not need to test the accuracy or classification of fixed assets recorded in prior periods if they are the continuing auditor because

• A) they are rarely material to the audit.
• B) they rarely contain misstatements.
• C) they are verified in previous audits.
• D) they don't affect the balance sheet.

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Definitions:

Simultaneously

Occurring at the same time; happening or done concurrently.

Occupies Many Statuses

Refers to the idea that an individual holds multiple social positions (statuses) at the same time, each with its own set of expectations.

Social Organization

The order established in social groups.

Industrial Societies

Societies characterized by a reliance on mechanized labor to create goods, leading to high levels of urbanization and complex social structures.