Which of the Following Would Be Suitable Criteria for Undertaking

question 16

Multiple Choice

Which of the following would be suitable criteria for undertaking an assurance engagement on an environmental and sustainability report?

• A) Australian Auditing Standards/International Auditing Standards.
• B) The revised COSO framework.
• C) ASAE 3000/ISAE 3000.
• D) Global reporting initiative framework.

---

Definitions:

Inferior Good

A type of good for which demand decreases as the income of consumers increases, opposite of a normal good.

Normal Good

A good for which demand increases as the income of the consumer increases.

Price Elasticity

An indicator of the alteration in the amount of a product that is either demanded or supplied, as a result of variations in its market price.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good which consumers are willing to purchase at various prices.