Which of the Following Is not an Underlying Premise of an Audit

question 19

Multiple Choice

Which of the following is not an underlying premise of an audit?

• A)Management must provide the auditor with all information relevant to the preparation and fair presentation of the financial statements.
• B)Management and the auditors have responsibility for the preparation of financial statements in accordance with the applicable financial reporting framework.
• C)Where appropriate,the auditor may obtain information from those charged with governance.
• D)The auditors should be provided unrestricted access to those within the entity from whom the auditor determines it necessary to obtain audit evidence.

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Definitions:

Advancement in Technology

describes improvements in technology that often lead to increased productivity, efficiency, and the creation of new products or processes.

Number of Producers

Refers to the total count or quantity of manufacturers or suppliers of a particular good or service in a market.

Input Prices

The cost of goods, services, and materials that are used to produce other goods or services.

Suppliers' Expectations

The anticipations or beliefs of suppliers about the future conditions of the market that can influence their decisions on production and pricing.