The Fraud Discussion May Include the Following Elements

question 25

Multiple Choice

The fraud discussion may include the following elements

• A)a discussion of auditor's involvement in supervising employees with access to cash or other assets susceptible to misappropriation
• B)a consideration of unusual or unexplained changes in the behavior or lifestyle of employees that have come to the attention of management
• C)a consideration of the types of circumstances that might indicate the possibility of fraud
• D)a discussion of how an element of predictability will be built into the nature,timing,and extent of audit procedures
• E)a discussion of any allegations of fraud that have come to the attention of the auditor
• F)both A and B
• G)both C and D
• H)Both C and E

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Definitions:

Demand

The desire for specific goods or services accompanied by the ability and readiness to pay for them.

Supply

The total amount of a specific good or service available to consumers, potentially influencing its market price.

Supply Curve

The supply curve is a graphical representation demonstrating the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to supply at those prices.

Business Revenues

The total income received by a company from its sales of goods or services, before any expenses are subtracted.