The Auditor Has No Responsibility to Plan and Perform the Audit

question 106

Multiple Choice

The auditor has no responsibility to plan and perform the audit to obtain reasonable assurance that misstatements, whether caused by errors or fraud, that are not ________ are detected.

• A)important to the financial statements
• B)statistically significant to the financial statements
• C)material to the financial statements
• D)identified by the client

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Definitions:

Sunburn

A form of skin damage caused by excessive exposure to ultraviolet (UV) rays from the sun, characterized by red, painful skin that may peel.

Fixed-Interval

A reward system where the initial response is only recognized and rewarded after a certain time period has elapsed.

Reinforcement Schedule

The pattern or timing of delivery of rewards or punishments that influences the rate and strength of a behavior in learning.

Lottery Numbers

Randomly selected numbers used in games of chance for the purpose of winning prizes.