To Make a Final Evaluation as to Whether Sufficient Appropriate

question 23

Multiple Choice

To make a final evaluation as to whether sufficient appropriate evidence has been accumulated, the auditor will do all of the following except

• A) review the audit documentation for the entire audit to determine whether all material classes of transactions have been adequately tested.
• B) make sure that all parts of the audit program have been accurately completed and documented.
• C) obtain the management representation letter.
• D) decide whether the audit program is adequate.

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Definitions:

Nanotechnology

The science and technology of creating and utilizing materials, devices, and systems by manipulating matter at the nanometer scale.

Economic Growth

An increase in the production of goods and services in an economy over a period, often measured as the percent rate increase in real gross domestic product (GDP).

Foreign Exchange Market

A global decentralized or over-the-counter market for the trading of currencies, enabling currency conversion for international trade and investment.

Depreciation

The reduction in the value of an asset over time, often due to wear and tear, obsolescence, or market conditions, considered in financial accounting and tax calculations.