An Important Method Used by Auditors to Learn of Material

question 29

Multiple Choice

An important method used by auditors to learn of material contingencies is

• A)Examining documents in the client's possession concerning contingencies.
• B)Inquiring and discussing them with management.
• C)Obtaining responses to an attorney letter.
• D)Confirming accounts receivable with the client's customers.

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Definitions:

Erik Erikson

A developmental psychologist known for his theory of psychosocial development, encompassing eight stages from infancy to adulthood.

Productive

The efficiency in producing a significant amount or result, especially in work or economic activities.

Positive Interactions

Exchanges or engagements between individuals that are supportive, encouraging, and constructive, contributing to well-being.

Midlife Transition

A period of life, often occurring between the ages of 40 and 60, where individuals experience significant changes in identity and self-perception.