After General Audit Objectives Are Understood, Specific Audit Objectives for Each

question 107

Multiple Choice

After general audit objectives are understood, specific audit objectives for each account balance on the financial statements can be developed. Which of the following statements is true?

• A) There should be at least one specific objective for each relevant general objective.
• B) There will be only one specific objective for each relevant general objective.
• C) There will be many specific objectives developed for each relevant general objective.
• D) There must be one specific objective for each general objective.

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Definitions:

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A leading technology company known for its innovation in personal computers, smartphones, and consumer electronics, founded by Steve Jobs, Steve Wozniak, and Ronald Wayne.

Price

The amount of money required to purchase a good or service, often determined by supply and demand.

Substitute

A product or service that can be used in place of another to fulfill the same need or desire.

Coffee

A widely enjoyed drink produced from ground, roasted coffee beans, famous for its energizing properties attributed to its caffeine content.