Question #73131
What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing?
Options:
Answer:
What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing The auditor has ascertained that the balance is materially correct when in actual fact it is not.
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Auditing Related Questions
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Q1.____________ is a systematic examination of the books and records or a business?
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Q2.The term ‘Audit’ is derived from a Latin word “audire” which means___________?
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Q3.The main object of an audit is _____________?
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Q4.An auditor is like a_______________?
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Q5.Process of verifying the documentary evidences of transactions are known as___________?
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Q6.Auditing is compulsory for____________?
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Q7.Concealment of shortage by delaying the recording of cash receipts is known as_____________?
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Q8.The fundamental objective of the audit of a company is to_____________?
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Q9.The concept of stewardship means that a company’s directors________________?
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Q10.Why do auditors concentrate their efforts on material items in accounts?
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