Which of the Following Best Describes Inherent Risk for Balance-Related

question 47

Multiple Choice

Which of the following best describes inherent risk for balance-related audit objectives as they relate to payroll?

• A) not considered
• B) low
• C) moderate
• D) high

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Definitions:

Cattle Rancher

A cattle rancher is an individual who operates a ranch, managing the breeding, raising, and selling of cattle for meat or other products.

Mutton

The meat from sheep, especially mature sheep, used as food.

Consumer Preferences

The subjective tastes and preferences of consumers, which guide their purchasing decisions and choice behavior.

Potato Chips

A thin slice of potato that has been deep fried or baked until crunchy, often used as a snack food.