SAS No94 Requires That Independent Auditors Be Able to

question 61

Multiple Choice

SAS No.94 requires that independent auditors be able to

• A)draw computerized flowcharts.
• B)prepare flowcharts and decision tables before conducting an audit.
• C)understand a client's system of internal controls before conducting an audit.
• D)prepare and understand any type of system documentation.

Match business types to specific examples of businesses.

Comprehend the unique attributes of various forms of business entities.

Understand the financial transaction impacts on the accounting equation.

Identify the types of financial statements and their characteristics.

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Definitions:

Intrinsic Motivation

Intrinsic motivation is the drive to engage in activities for the inherent satisfaction and enjoyment they bring rather than for some external reward.

Extrinsic Motivation

Motivation that is driven by external rewards such as money, fame, grades, and praise, rather than internal drives or satisfaction.

Social Motivation

The drive to seek connections with others and be part of a group, influenced by the desire for acceptance, affection, and social support.

Biological Motivation

This term refers to the innate or instinctual drives that influence behavior in living organisms, such as hunger, thirst, and reproduction.