The Existence of Audit Risk Is Recognized by the Statement

question 38

Multiple Choice

The existence of audit risk is recognized by the statement in the auditor's standard report that the:

• A)auditor is responsible for expressing an opinion on the financial statements, which are the responsibility of management.
• B)financial statements are presented fairly, in all material respects, in conformity with applicable financial reporting framework.
• C)audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.
• D)auditor obtains reasonable assurance about whether the financial statements are free of material misstatement.

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Definitions:

HomeGroup

A Windows 7 and higher feature to make home networking easier to configure and join. HomeGroups were removed from Windows 10 (Version 1803) and later versions.

WLAN

Wireless Local Area Network, a networking technology that allows devices to connect and communicate wirelessly within a limited area such as a home, school, computer laboratory, or office building.

SSID

Service Set Identifier, a unique name given to a wireless network, allowing devices to connect to the intended network among multiple overlapping networks.

Ping Command

A diagnostic utility in networking that tests the reachability of a host on an Internet Protocol (IP) network and measures the round-trip time for messages sent from the original host.