Which One of the Following Would Be the Least Reliable

question 36

Multiple Choice

Which one of the following would be the least reliable type of evidence?

• A)Confirmations returned by bank directly to the auditor.
• B)Letters of communication from the Securities Exchange Commission.
• C)Physical examination of perpetual inventory.
• D)Evidence from an easily overridden information system.

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Definitions:

Time-Discounted Profits

The present value of profits expected in the future, adjusted for the time value of money.

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies if other players keep theirs unchanged.

Sequential Play

A feature of certain games in which players make moves one after the other, with each player aware of the preceding players' moves before making their own.

Utility Function

An economic model that ranks an individual's preferences for different combinations of various goods and services.