Which of the Following Is Not a Valid Basis for Omitting

question 64

Multiple Choice

Which of the following is not a valid basis for omitting an audit test in forming an opinion on the clients financial statements?

• A) the difficulty and expense involved in testing a particular item
• B) the relative risk involved
• C) the degree of reliance on the relevant internal controls
• D) the relationship between the cost of obtaining evidence and its usefulness

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Definitions:

Phosphate

A chemical compound containing the phosphate ion, PO4^3-, involved in many biological processes including energy transfer.

Kinetic Energy

Energy associated with motion.

Chemical Bonds

The attractive forces that hold atoms together in compounds, resulting from the sharing or transferring of electrons.

Potential Energy

Stored energy in a potentially usable form, as a result of location or spatial arrangement.