A Systems Flowchart Could Be Helpful in Fulfilling Which Generally

question 63

Multiple Choice

A systems flowchart could be helpful in fulfilling which generally accepted auditing standards?

• A)Internal control
• B)Evidence
• C)Both internal control and evidence
• D)Neither internal control nor evidence

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Definitions:

Optimizing Goal

Aimed at finding the best possible solution or outcome in a given situation, often in contrast to satisfying goals which seek a "good enough" result.

Satisficing

A decision-making strategy that involves choosing an option that meets a minimum level of satisfaction rather than optimizing the best possible outcome.

Profitable

Refers to the ability of a business or activity to generate more revenue than the expenses incurred, leading to financial gain.

Opportunity

A set of circumstances that makes it possible to do something or that creates a chance for progress or advancement.