Control Risk Is

question 39

Multiple Choice

Control risk is:

• A)The risk that a client's system of internal controls will prevent or detect a material misstatement.
• B)The risk that a client's system of internal controls will not prevent or detect a material misstatement.
• C)The susceptibility of an assertion to a material assertion assuming there are no related controls.
• D)None of the above.

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Definitions:

Syntactical Unit

A grouping of words that forms a coherent part of a sentence according to the rules of syntax, such as a phrase or clause.

Cognitive Revolution

A shift in psychology in the 1950s to 1960s focusing on the study of mental processes such as thinking, memory, and problem-solving.

Cognitive Activity

Cognitive functions that play a role in acquiring understanding and insight, encompassing activities such as cognition, perception, recollection, evaluation, and solving issues.

Discarding

The process of eliminating or getting rid of something that is no longer useful or required.