The Three PCAOB Standards of Fieldwork Are Concerned with

question 53

Multiple Choice

The three PCAOB standards of fieldwork are concerned with

• A) Planning and supervision and understanding the client's internal control system.
• B) Choosing evidence with due professional care.
• C) Adequate training to understand the client's internal controls system.
• D) Ensuring consistency in financial statements for periods presented.

---

Definitions:

Short-Term Investments

Assets that can be easily converted into cash within a short timeframe, typically one year or less, without losing value.

Marketable Debt Securities

Investments in bonds or other debt securities that are available for sale before their maturity date.

Idle Cash

Refers to the money that a company has not invested or used in any way to earn more income.