Which of the Following Is Not a Basic Approach Often

question 82

Multiple Choice

Which of the following is not a basic approach often used by auditors to evaluate the reasonableness of accounting estimates?

• A) Confirmation of amounts.
• B) Review of management's process of development.
• C) Independent development of an estimate.
• D) Review of subsequent events.

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Definitions:

Core Values

Fundamental beliefs or guiding principles that dictate behavior and action within an organization or individual.

Underlying Assumptions

The basic, often implicit, ideas or beliefs that support and inform a thought process or theory.

Value-Based Management

An approach in business that centers on maximizing shareholder value through strategic decision-making and operational efficiency.

Core Values

Fundamental beliefs or principles that guide an organization's or individual's behavior and decision-making.