Residual Risk Is Defined as

question 56

Multiple Choice

Residual risk is defined as

• A)susceptibility of a transaction or accounting adjustment to be recorded in error,or for the transaction not to be recorded in the absence of internal controls.
• B)the risk that the client's internal controls system will fail to prevent or detect a misstatement.
• C)the risk left in an account balance after application of internal controls.
• D)risk that the audit procedures will fail to detect a material misstatement.

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Definitions:

Human Rights

The basic rights and freedoms that belong to every person in the world, from birth until death.

Martin Luther King Jr.

A prominent leader in the American civil rights movement, known for advocating nonviolence and civil disobedience to combat racial inequality.

Assassination

The act of deliberately killing a prominent or important person, typically for political reasons or for personal gain.

Uprisings

Acts of rebellion or revolt by a group of people against an established authority or government, often aiming to achieve political or social change.