In Evaluating Internal Control, the Auditor Is Basically Concerned That

question 74

Multiple Choice

In evaluating internal control, the auditor is basically concerned that the system provides reasonable assurance that:

• A)operational efficiency has been achieved in accordance with management plans.
• B)material misstatements have been prevented, or detected and corrected.
• C)controls have not been circumvented by collusion.
• D)management cannot override the system.

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Definitions:

Family Diversity

The variance in family structures, compositions, and arrangements in a society, reflecting different cultural, social, and economic contexts.

Nuclear Family

A family unit consisting of two parents and their children, regarded as a basic social unit.

Stepfather

A man who is married to one's mother after the divorce or death of one's biological father and who may not be the biological father of the child.

Formulate Plan

Designing a structured approach to achieve a specific goal or solve a problem.