What Is the Most Reliable Form of Audit Evidence

question 10

Multiple Choice

What is the most reliable form of audit evidence?

• A)Evidence obtained through the auditor's direct personal knowledge.
• B)Evidence gathered directly from independent third parties.
• C)Evidence produced by independent third parties.
• D)Comprehensive analysis performed by the auditor.

---

Definitions:

Iguanas

Large, herbivorous lizards native to Central and South America, known for their distinctive appearance, including dorsal spines and dewlaps.

Elastic Demand

A scenario in which there's a notable shift in the demand for a product or service due to a variation in its price.

Total Revenue

The entire amount of income generated by the sale of goods or services before any costs or expenses are deducted.

Output

The total amount of goods or services produced by a firm, industry, or economy in a given period.