Auditor Needs to Assess Disclosures About What Lines of Business

question 6

True/False

Auditor needs to assess disclosures about what lines of business the company may discontinue.

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Definitions:

Consumer Lifestyles

The habits, attitudes, tastes, moral standards, economic levels, and the amount of consumption by an individual or group.

Ideals

Standards or models of perfection and excellence that individuals or societies strive to achieve.

Principles

Fundamental truths or propositions that serve as the foundation for a system of belief or behavior or for a chain of reasoning.

Achievement-motivated

Characterizes individuals who are driven by the desire to accomplish significant tasks, solve problems, and achieve high standards of success.