The Ultimate Purpose of Assessing Control Risk Is to Contribute

question 27

Multiple Choice

The ultimate purpose of assessing control risk is to contribute to the auditor's evaluation of the ________.

• A)factors that raise doubts about the auditability of the financial statements
• B)operating effectiveness of internal control policies and procedures
• C)risk that material misstatements exist in the financial statements
• D)possibility that the nature and extent of substantive tests may be reduced

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Definitions:

Day Care

A service involving care for other people's children during the daytime, especially so that their parents can work.

Social And Cognitive Measures

Evaluations or assessments used to gauge an individual's cognitive abilities and social behaviors.

Parenting Styles

The psychological constructs representing standard strategies that parents use in raising their children.

Authoritarian

A strict, control-oriented leadership or governing style, emphasizing obedience and the authority of leaders over individual autonomy.