Which of the Following Is Not True of "Reasonable Assurance

question 12

Multiple Choice

Which of the following is not true of "reasonable assurance"?

• A)Exercise of due care
• B)Absolute guarantee
• C)Appearance of independence
• D)Followed GAAS

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Definitions:

Certified Cheque

A cheque guaranteed by a bank, assuring the recipient that the writer has sufficient funds available for the transaction.

Method Of Payment

A method of payment refers to the way in which a buyer chooses to compensate the seller of a good or service, typically including options such as cash, credit cards, checks, or electronic transfers.

Closing Date

The day on which a property sale is concluded, with the transfer of ownership from the seller to the buyer.

Implied Term

A provision in a contract that is not explicitly stated but is assumed to be included to ensure the fair and effective functioning of the contract.