Which of the Following Factors Is Not a Component of the Audit

question 76

Multiple Choice

Which of the following factors is not a component of the audit risk model?

• A)Inherent risk.
• B)Statistical risk.
• C)Detection risk.
• D)Control risk.

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Definitions:

Opportunity Cost

The potential benefits an individual, investor, or business misses out on when choosing one alternative over another.

Export

A good or service produced in one country and sold to buyers in another country, contributing to the selling country's gross domestic product.

Cheese

A dairy product derived from milk and produced in a wide range of flavors, textures, and forms by coagulating the milk protein casein.

Opportunity Cost

The sacrifice of prospective advantages from other possibilities when one option is selected.