A Systems Flowchart

question 35

Multiple Choice

A systems flowchart:

• A)Can help an auditor understand an organization's business processes as part of the third generic step of a financial statement audit.
• B)Can help an auditor verify all five financial statement assertions as part of the fourth generic step of a financial statement audit.
• C)Both can help an auditor understand an organization's business processes as part of the third generic step of a financial statement audit and can help an auditor verify all five financial statement assertions as part of the fourth generic step of a financial statement audit.
• D)Neither can help an auditor understand an organization's business processes as part of the third generic step of a financial statement audit nor can help an auditor verify all five financial statement assertions as part of the fourth generic step of a financial statement audit.

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Definitions:

Overhead Camshaft Engines

Engines where the camshaft is located above the cylinder heads, directly operating the valves, which allows for more precise valve timing.

Camshaft

A crankshaft-driven shaft containing oblong-shaped lobes that push on valve lifters to open cylinder head valves.

Cylinder Head

The component of an engine that closes in the top of the cylinder, forming the combustion chamber and containing mechanisms such as valves and spark plugs.

Four-Stroke Cycle

A cycle of internal combustion engine operation that includes intake, compression, power, and exhaust strokes.