Which Statement Is Not Correct

question 95

Multiple Choice

Which statement is not correct?

• A)Auditors gather evidence using tests of controls and substantive tests.
• B)The most important element in determining the level of materiality is the mathematical formula.
• C)Auditors express an opinion in their audit report.
• D)Auditors compare evidence to established criteria.

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Definitions:

Television Sets

Electronic devices designed to receive broadcast signals and display them as visual images.

Substitutes

Products or services that serve as alternatives to each other, where a rise in the price of one results in a higher demand for its counterpart.

Substitutes

Products or services that can be used in place of each other, satisfying the same needs or wants.

Complements

are goods or services that are typically consumed or used together, where an increase in demand for one leads to an increase in demand for the other.