The Advantages of Generalized Audit Software Include All of the Following

question 22

Multiple Choice

The advantages of generalized audit software include all of the following except:

• A) It involves auditing while the data are being processed (real-time).
• B) It is easy to use.
• C) The time to develop the application is usually short.
• D) An entire population can be examined in some instances.

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Definitions:

Caveat Emptor

A Latin phrase meaning "let the buyer beware," which places the responsibility on the buyer to perform due diligence before making a purchase.

Law Book

A publication containing legal rules, regulations, and case law intended to guide lawyers, judges, and scholars in their legal work and studies.

Implied Warranty

An unstated guarantee that goods sold or services provided meet certain quality standards and fit for the purpose intended.

Breach

A violation or infraction of a law, obligation, tie, or standard.