Which of the Following Statements Is

question 30

Multiple Choice

Which of the following statements is ?

• A)There is no relation between the auditor's assessed risk of material misstatement and detection risk.
• B)If detection risk is high,significant substantive procedures are necessary to reduce detection risk.
• C)There is an inverse relation between the auditor's assessed risk of material misstatement and detection risk.
• D)If detection risk is low,only a small number of substantive procedures are necessary to reduce the detection risk.

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Definitions:

Table Router

A power tool used for woodworking that combines the functionalities of a router and a stationary table, allowing for precise routing operations.

Hardwood

A type of wood that comes from angiosperm trees, distinguished by its dense and durable qualities, often used in furniture, flooring, and construction.

Clayton Act

A U.S. legislation enacted in 1914 aimed at promoting fair competition and preventing unfair business practices such as monopolies and anticompetitive mergers.

Interstate Commerce

The trade, traffic, or transportation of goods across state lines within the United States subject to federal regulation.