Audits of Financial Statements Are Designed to Obtain Reasonable Assurance

question 55

Multiple Choice

Audits of financial statements are designed to obtain reasonable assurance of detecting material misstatements due to: $$\begin{array} { | c | c | c | } \hline & \text { Errors } & \text { Misappropriation of Assets } \\\hline \text { A. } & \text { Yes } & \text { Yes } \\\hline \text { B. } & \text { Yes } & \text { No } \\\hline \text { C. } & \text { No } & \text { Yes } \\\hline \text { D. } & \text { No } & \text { No } \\\hline\end{array}$$

• A) Option A
• B) Option B
• C) Option C
• D) Option D

---

Definitions:

ADP

Adenosine diphosphate, a molecule involved in ATP synthesis, it releases energy when it is converted to ATP in cellular respiration.

Muscle Contraction

The tightening of muscle fibers initiated by electrical impulses, leading to shortening of the muscle and movement or force generation.

Sarcoplasmic Reticulum

Smooth endoplasmic reticulum of skeletal muscle cells; surrounds the myofibrils and stores calcium ions.

Calcium Ions

Electrically charged calcium atoms (Ca2+) that play a crucial role in various physiological processes, including muscle contraction, neurotransmitter release, and bone formation.