Which of the Following Statements Is Correct About the Objective

question 28

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)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 material 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:

Pressure Gradient

A pressure gradient is the physical quantity representing the difference in pressure between two points, causing fluid flow from the region of higher to lower pressure.

Plasma Clearance

A measure of the rate at which a substance is removed from the blood by the kidneys or other organs.

Plasma Osmolarity

The concentration of solutes in the blood plasma, important for the regulation of water balance and blood pressure.

Glomerular Filtration Rate

A test used to check how well the kidneys are filtering blood, indicated by the rate of glomerular filtration.