Snow,CPA,was Engaged by Master Limited to Examine and Report on Management's

question 31

Multiple Choice

Snow,CPA,was engaged by Master Limited to examine and report on management's written assertion about the effectiveness of Master's internal control system over financial reporting.Snow's report should state that ________.

• A)because of the inherent limitations in any system of internal control,errors or irregularities may occur and not be detected.
• B)management's assertion is based on criteria established by the Chartered Professional Accounts of Canada.
• C)the results of Snow's tests will form the basis for Snow's opinion on the fairness of Master's financial statements in conformity with GAAP.
• D)the purpose of the engagement is to enable Snow to plan an audit and determine the nature,timing,and extent of tests to be performed.

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Definitions:

Exceptions

Events that disrupt the normal flow of program execution, often indicating errors or special conditions that need handling.

GetMessage

A method in Java and other programming languages used to obtain a detailed message string from an exception object.

Exception Handling

Exception handling is a programming construct or mechanism for responding to and managing runtime errors or abnormal conditions in a controlled manner.

Catch Block

A section of code designed to handle an exception or error that occurs during the execution of a program, part of a try-catch statement in many programming languages.