The Final Phase of an Audit Includes Which of the Following

question 8

Multiple Choice

The final phase of an audit includes which of the following?

• A) performing substantive tests of account balances
• B) gaining an understanding of the client's internal control system
• C) confirming the terms of the audit engagement with the auditor
• D) determining whether the audit evidence obtained is sufficient and appropriate to reduce the risk of material misstatements in the financial statements to an acceptably low level

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Definitions:

Direct Marketing

A method of marketing that communicates directly with the target customer through various mediums, including mail, email, and telephone, to generate a response or transaction.

Product Sampling

Product sampling is a marketing tactic that involves giving potential customers a trial size of a product free of charge in order to introduce it and encourage purchase.

Social Media

Platforms and websites that enable users to create and share content or participate in social networking.

Ultimate Consumers

The final buyers or users of products and services for personal, non-business use.