In Actively Considering Fraud in the Financial Statement Audit,the Audit

question 60

Multiple Choice

In actively considering fraud in the financial statement audit,the audit team will most likely realize which of the following when performing substantive procedures?

• A)Accounting journal entries may have been used to perpetrate a fraud.
• B)Most fraud is not material enough to consider.
• C)Journal entries do not supply enough evidence to detect fraud.
• D)New technology prevents fraud more thoroughly than manual systems.

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Definitions:

Palliative Effect

An approach to treatment aimed at relieving symptoms and improving the quality of life, without necessarily curing the disease.

Radiation

Energy that is emitted in the form of waves or particles, which can be natural or artificial and has applications in medicine, energy production, and various technologies.

Localized

Restricted to a specific area or region; not widespread or generalized.

Immunotherapy

A treatment that uses certain parts of a person’s immune system to fight diseases such as cancer.