Which of the Following Statements Is Correct

question 129

Multiple Choice

Which of the following statements is correct?

• A)the auditor controls detection risk by the amount of substantive testing he or she does
• B)the auditor controls inherent risk by the amount of control testing he or she does
• C)the auditor controls control risk by the amount of control testing he or she does
• D)the auditor controls audit risk by the amount of substantive testing he or she does

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Definitions:

Repayment Period

The time frame during which a borrower is required to pay back a loan or debt.

Patent

A form of protection for intellectual property provided to an inventor for a period of 17 years.

Brand Name

A distinctive title or symbol that identifies a product and differentiates it from competitors.

Trademark

A symbol, word, or phrase legally registered or established by use as representing a company or product, protecting the brand's identity.