An Auditor Discovers That an Account Balance Believed Not to Be

question 79

Multiple Choice

An auditor discovers that an account balance believed not to be materially misstated based on an audit sample was materially misstated based on the total population of the account balance.This is an example of which of the following types of sampling risks?

• A)Incorrect rejection.
• B)Incorrect acceptance.
• C)Overreliance.
• D)Underreliance.

Recognize the importance and components of an effective code of conduct.

Understand the implications of fair use in copyright law.

Identify the ethical obligations employees have towards their employers.

Understand the standards and conditions that justify whistle-blowing according to ethicists.

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Definitions:

Lower Income Canadians

Refers to individuals or families in Canada earning significantly less than the national median income, affecting their living standards and access to resources.

Retirement

The act of leaving one's job and ceasing to work, typically upon reaching a certain age or due to health reasons, often accompanied by receiving a pension.

Income

The financial return or earnings from work, investments, or business endeavors.

Functionalist

Pertaining to a perspective in sociology and anthropology that interprets society as a structure with interrelated parts designed to meet the biological and social needs of the individuals in that society.