An Auditor Is Least Likely to Test the Internal Controls

question 3

Multiple Choice

An auditor is least likely to test the internal controls that provide for

• A) Approval of the purchase and sale of marketable securities.
• B) Classification of revenue and expense transactions by product line.
• C) Segregation of the functions of recording disbursements and reconciling the bank account.
• D) Comparison of receiving reports and vendors' invoices with purchase orders.

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Definitions:

Schizophrenia

A chronic brain disorder that affects a person's ability to think, feel, and behave clearly.

Rational

Based on or in accordance with reason or logic; capable of logical or reasoned thinking.

Catastrophizing

An irrational thought process where one assumes the worst possible outcomes of a situation, often leading to increased anxiety and stress.

Class Average

The mean score, grade, or performance derived from the totality of students within a particular classroom or educational setting.