Which of the Following Statements Regarding Auditors Is True

question 48

Multiple Choice

Which of the following statements regarding auditors is true?

• A)When the auditors are to form an opinion that the final accounts truly and fairly summarise the underlying transactions,they do not necessarily have to have confidence in the integrity of the AIS.
• B)If the auditors are to form an opinion that the final accounts truly and fairly summarise the underlying transactions then they must have confidence in the integrity of the AIS.
• C)If the auditors are to express confidence in the integrity of the AIS,then they must form an opinion that the final accounts truly and fairly summarise the underlying transactions.
• D)The integrity of the AIS and the auditors' opinion towards the final accounts are irrelevant.

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Definitions:

Worthless Coin

A coin that has lost its value as currency, often due to hyperinflation or being phased out of circulation.

Inefficient Exchange

Occurs when there is a missed opportunity in the allocation of goods or services that could make at least one individual better off without making anyone else worse off.

Persian King

A sovereign ruler of the ancient Persian Empire, known for their significant influence over one of the largest empires in history.

Socially Efficient

An economic condition where resources are allocated in a way that maximizes the net benefits to society as a whole.