Which of the Following Audit Risk Components May Be Assessed

question 27

Multiple Choice

Which of the following audit risk components may be assessed in qualitative terms?

• A)Risk of material misstatement.
• B)Detection risk.
• C)Neither risk of material misstatement nor detection risk.
• D)Both risk of material misstatement and detection risk.

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Definitions:

Sternum

The breastbone.

Right Margin

The right boundary of a text block in a document, where the line of text ends on the right side.

Limbs

Refers to the arms and legs.

Simultaneous

Occurring at the same time.