An Audit Provides Reasonable Assurance of Detecting Which of the Following

question 40

Multiple Choice

An audit provides reasonable assurance of detecting which of the following types of material illegal acts? $\begin{array} { c} & \text { Direct Effect} & \text { Without a} \\ &\text { } & \text { Direct Effect} \\ \text { A) } & \text { Yes } & \text { Yes } \\ \text { B) } & \text { Yes } & \text { No } \\ \text { C) } & \text { No } & \text { Yes } \\ \text { D) } & \text { No } & \text { No } \end{array}$

---

Definitions:

Consolidated Earnings Per Share

A measure of a company's profitability that takes into account earnings from all of the entities it controls, presented on a per-share basis.

Acquisition-Date Fair Value

The fair value of an asset or liability measured at the date a business combination is effected.