The Statement of Auditing Standards SAS No 1 States Select

question 61

Essay

The Statement of Auditing Standards SAS No 1 states select the most correct answer:
A. management is responsible for adopting sound accounting policies and for establishing and maintaining internal control consistent with management's assertions embodied in the financial statements.
B. management is responsible for adopting sound accounting policies which will result in adequate protection of entrusted assets.
C. management is responsible for adopting sound accounting principles which will result in accurate and proper financial statements.
D. management is responsible for adopting sound internal control policies which will protect entity assets from reasonable loss and damage.

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Definitions:

Social Sciences

Academic disciplines that study societies and human behavior, including psychology, sociology, anthropology, and economics.

Face-to-face Interviews

A method of conducting interviews where the interviewer and the interviewee meet in person.

Focus Groups

A research method involving a small, diverse group of people whose reactions to specific discussions or products are studied, especially in market research.

Valid

Something that is logically sound, legally acceptable, or otherwise officially recognized as correct or legitimate.