Which of the Following Types of Risk Is of Critical

question 22

Multiple Choice

Which of the following types of risk is of critical importance to auditors in performing tests of controls?

• A)The risk of assessing control risk too low.
• B)The risk of assessing control risk too high.
• C)The risk of incorrect acceptance.
• D)The risk of incorrect rejection.

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Definitions:

Carbon-14 Ages

An age estimate of an organic material based on the measurement of the radioactivity of its carbon-14 content.

Granite Intrusion

The penetration of molten granite into pre-existing rocks in the Earth's crust, cooling and solidifying below the surface.

Cross-Cutting Relations

A geological principle stating that rocks disrupted or penetrated by an igneous intrusion or fault are older than the intrusion or fault itself.

Superposition

A principle in geology that states in an undeformed sequence of sedimentary rocks, each layer is older than the one above.