Which of the Following Statements Is Correct About the Objective

question 75

Multiple Choice

Which of the following statements is correct about the objective of the audit process?

• A)Generally accepted auditing standards require the auditor to obtain assurance about whether the financial statements are free from all misstatements.
• B)Reasonable assurance is obtained by the auditor when he has obtained sufficient appropriate audit evidence to reduce audit risk to an acceptably low level.
• C)A misstatement is an error or fraud in the financial statements that might cause a user of the financial statements to change his decision about the company.
• D)Sufficient appropriate audit evidence refers to the persuasiveness of the evidence gathered.

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Definitions:

Political Orientation

An individual's or group's predisposition towards particular political beliefs, ideologies, or affiliations.

Schooling

The process of receiving education in an institutional setting, like a school, where academic skills and knowledge are systematically taught.

Conservative Tide

Refers to a period in political history characterized by a shift towards conservative values and policies, often marked by reduced government intervention in the economy and a focus on traditional social norms.

Liberals

Refers to individuals or political groups advocating for policies that prioritize liberty, equality, and consent of the governed, often supporting government intervention to achieve social justice.