Factors That May Influence the Extent of Fraud Discussion Among

question 61

Multiple Choice

Factors that may influence the extent of fraud discussion among audit team members include

• A)if there is an ongoing fraud investigation,the subject should be avoided
• B)any frauds reported by management should be excluded from the discussion
• C)the auditor may also consider whether the specialists assigned to the audit team should be included in the discussions
• D)if the audit involves the corporate headquarters,corporate counsel should be invited
• E)if the audit involves more than one location,there may be multiple fraud discussions
• F)both A and B
• G)both B and C
• H)Both C and E

---

Definitions:

Joint Costs

Costs incurred in the process of producing two or more products before the point where these products are separately identifiable.

Skimmed Milk

Milk from which the majority of the fat content has been removed, resulting in a lower calorie option.

Joint Costs

Costs incurred in the process of producing two or more products at the same time, where the costs cannot be separately identified.

Split-Off Point

is the stage in a production process where multiple products are generated from common inputs, each able to be separately identified and valued.