For Internal Control Testing Related to a Financial Reporting Process,the

question 6

Multiple Choice

For internal control testing related to a financial reporting process,the population is usually

• A)all items in the class of transactions or account balance that the auditor feels are necessary to determine whether controls are effective for the year
• B)all items in the class of transactions or account balance that the auditor feels are necessary to determine whether controls are effective at the end of the year
• C)all items in the class of transactions or account balance that the auditor feels are necessary to determine whether controls are effective during the year
• D)all items in the class of transactions or account balance that the auditor feels are necessary to determine whether controls are effective at the beginning of the year

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Definitions:

Vocabulary

The group of words recognized and employed by an individual in a certain language.

Age

the length of time that a person or object has existed or the period during which an organism has lived.

Prospective Memory

Refers to the ability to remember to perform actions in the future, such as remembering to take medication at a certain time.

Tip-Of-The-Tongue

A cognitive phenomenon where a person cannot fully retrieve a word but has a partial recall or feels that retrieval is imminent.