Which of the Following Is Not a Topic That Requires

question 24

Multiple Choice

Which of the following is not a topic that requires special consideration by management during management's internal control assessment process and by the auditor during the audit of internal control?

• A)Multiple locations and business units.
• B)Service organizations.
• C)The role of the auditor in internal control.
• D)Safeguarding assets.

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Definitions:

Probability

The degree to which something is likely to happen, quantified as a number between 0 (impossible) and 1 (certain).

P-Values

Probabilities used to quantify the significance of findings, or the likelihood that the observed data occurred by chance under the null hypothesis.

Null Hypothesis

A statement in statistical analysis that assumes no significant difference or effect, serving as the default assumption to be tested against an alternative hypothesis.

Level Of Significance

A threshold used in hypothesis testing to determine whether to reject the null hypothesis, commonly set at 0.05, indicating a 5% risk of concluding that a difference exists when there is none.