When the Assessed Level of Inherent Risk for Material Misstatement

question 30

Multiple Choice

When the assessed level of inherent risk for material misstatement is not high,but the control risk is,the audit plan should call for:

• A)Gathering a relatively low level of substantive audit evidence.
• B)Gathering a moderately persuasive level of planned substantive evidence.
• C)Performing extensive tests of controls to reduce control risk to an acceptably low level.
• D)Gathering a highly persuasive level of substantive evidence.

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Definitions:

Multimedia Programs

Computer applications that use a combination of different content forms such as text, audio, images, animations, video, and interactive content.

Return on Investment

A financial measure used to evaluate the efficiency of an investment or compare the efficiency of multiple investments, calculating the return relative to the investment's cost.

Development Cost

Expenses associated with creating and implementing a training program, educational course, or new product.

Adaptive Learning

A personalized approach to education that adjusts the content and pace based on the learner's needs and responses.