Examlex
When the auditor recomputes the unexpired portion of prepaid insurance, she is satisfying which audit objective?
Misrepresentation
An untrue assertion of reality presented by one individual to another, resulting in the latter being persuaded to enter into a contract.
Fraud
The intentional deception or misrepresentation made by a person or entity to gain an unfair advantage or to harm another party's interests.
Rectification
The process of correcting or making right an error, especially in legal documents.
Voidable
A term describing a contract or transaction that remains valid until one party takes action to void it, often due to elements like fraud or misrepresentation.
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