Which of the Following Would Be a Subsequent Discovery of Facts

question 114

Multiple Choice

Which of the following would be a subsequent discovery of facts which would not require a response by the auditor?

• A) discovery of the inclusion of material nonexistent sales
• B) discovery of the failure to write off material obsolete inventory
• C) discovery of the omission of a material footnote
• D) decrease in the value of investments

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Definitions:

Sales Goals

Specific targets or objectives set for a sales team or individual to achieve within a given timeframe.

Chief Financial Officer

A senior executive responsible for managing the financial actions of a company, including tracking cash flow, financial planning, and analyzing the company's financial strengths and weaknesses.

Work Atmosphere

The environment and culture of a workplace, influenced by relationships, policies, and the physical workspace, which affects employees' motivation and productivity.

Leadership Grid

A model used to help understand different leadership styles based on concern for people and production.