Which of the Following Statements Concerning Audit Evidence Is Correct

question 68

Multiple Choice

Which of the following statements concerning audit evidence is correct?

• A) Appropriate evidence supporting management's assertions should be convincing rather than persuasive.
• B) Effective internal controls contribute little to the reliability of the evidence created within the entity.
• C) The cost of obtaining evidence is not an important consideration to an auditor in deciding what evidence should be obtained.
• D) A client's accounting data cannot be considered sufficient audit evidence to support the financial statements.

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Definitions:

Conclusions

Final decisions or opinions formed after a period of consideration or investigation.

Serendipity

Unanticipated, yet informative, results of a research study.

Researchers

Individuals who conduct systematic investigations and studies to discover or interpret new knowledge in various academic, scientific, or social contexts.

Data

The systematic information that sociologists use to investigate research questions.