The Auditor Seeks ____________ That No _______________ Exist in the Audited

question 86

Multiple Choice

The auditor seeks ____________ that no _______________ exist in the audited process.

• A)absolute certainty; financial errors
• B)reasonable assurance; material errors
• C)relative certainty; accounting errors
• D)reasonable assurance; control weaknesses

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Definitions:

Unearned Fees

Income received by a business for services not yet performed or goods not yet delivered.

Journalize

The process of recording transactions in a company's journal, detailing the financial transactions of a business in chronological order.

Supplies Account

An account used in accounting to track the cost of supplies purchased and used by a business within a specific accounting period.

Wages Accrued

Amounts of money earned by employees for work done that have not yet been paid by the company.