Audit Documentation

question 51

Multiple Choice

Audit documentation:

• A)must be in electronic form.
• B)must be in paper form only.
• C)is not required, but is strongly recommended.
• D)may be in paper, electronic, or some other medium.

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Definitions:

Material Fact

A fact that is significant or essential to the matter at hand, and whose disclosure can influence the decisions of those involved in a legal agreement or transaction.

New Brakes

Refers to recently installed braking components in a vehicle, intended to improve safety and performance.

Physical Duress

Coercion involving the use of or threat of physical force to compel someone to act against their will.

Economic Duress

A situation where an individual or company is forced into a contractual agreement under threats or pressure related to financial hardships.