Which of the Following Statements Is False

question 31

Multiple Choice

Which of the following statements is false?

• A)Inherent risk is inversely related to the level of control risk.
• B)Inherent risk is directly related to the amount of evidence required in account testing.
• C)Inherent risk is the susceptibility of the financial statements to material misstatement,assuming no internal controls.
• D)Inherent risk and control risk are assessed by the auditor and controlled by the client.

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Definitions:

Radial

Relating to or situated near the radius or forearm; or extending in a direction outward from a common center.

Brachial

Relating to the arm, specifically the upper arm from the shoulder to the elbow.

Calibrating

The process of adjusting and setting the accuracy of a measuring instrument to ensure it meets its specified and intended use.

Balance Beam Scale

is a type of weighing scale that uses a balance beam to measure mass through a comparison of known weights.