The Risk That an Error That Could Occur in an Audit

question 3

Multiple Choice

The risk that an error that could occur in an audit area and could be material,individually or in combination with other errors,will not be prevented or detected and corrected on a timely basis by the internal control system is:

• A)Inherent risk
• B)Control risk
• C)Detection risk
• D)Incontrollable risk

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Definitions:

Cooperative

An organization or attitude marked by the willingness to work together towards a common goal or mutual benefit.

Win-Win Approach

A strategy aimed at solving conflicts by finding solutions that are beneficial to all involved parties, ensuring mutual satisfaction.

Forcing Style

Forcing style describes a conflict resolution approach where one party aggressively imposes their solution, disregarding others' needs or opinions.

Interpersonal Conflict-Handling

Strategies or methods used by individuals to address and resolve disputes or disagreements in relationships.