If the Auditor of Financial Statements Understands Internal Control and Assesses

question 76

Multiple Choice

If the auditor of financial statements understands internal control and assesses control risk as low,it is assumed that internal control:

• A)will be tested to support the assessment.
• B)is not required to be tested as it is considered strong.
• C)is considered relatively weak and will not be tested.
• D)has been assessed erroneously by the auditor.

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Definitions:

Lineage Members

Individuals who are part of a lineage, a group of people descended from a common ancestor, recognized through familial ties and heritage.

Other Lineages

Refers to familial or ancestral lines that are separate from one's own, often used in the context of understanding kinship and descent in anthropological terms.

Foraging Cultures

Societies primarily engaged in the collection, hunting, and fishing of spontaneous food resources.

State Societies

Society that is organized and governed by a centralized government, often characterized by stratification and complex social structures.