As It Relates to an Audit,which of the Following Statements

question 137

Multiple Choice

As it relates to an audit,which of the following statements about professional skepticism is true?

• A)Professional skepticism is not taken into consideration.
• B)Professional skepticism relates only to the nature of procedures performed.
• C)Professional skepticism is an attitude.
• D)Professional skepticism is determined based upon the importance to a user of the financial statements.

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Definitions:

Billable Hours

The amount of time a professional, such as a lawyer, charges their client for, based on the hours they work on a specific case or project.

Fee Splitting

Fee splitting refers to the practice of sharing fees among different professionals, such as lawyers or doctors, which is often regulated due to ethical concerns.

Nonbillable

Nonbillable refers to time or activities related to a job or profession that cannot be charged to a client as part of services rendered.

Administrative Work

Tasks related to the management and operation of an organization, including paperwork, scheduling, and organizational duties.