Which of the following statements is false?

a. Inherent risk is inversely related to the level of control risk.
b. Inherent risk is directly related to the amount of evidence required in account testing.
c. Inherent risk is the susceptibility of the financial statements to material misstatement, assuming no internal controls.
d. Inherent risk and control risk are assessed by the auditor and controlled by the client.


a

Business

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Mintzberg’s approach suggests that strategists formulate strategy from _________.

a. The newspapers b. Textbooks c. Strategic thinking tools d. Consultancy models

Business

A minor may avoid any contract with an adult.

Answer the following statement true (T) or false (F)

Business

If X and Y are independent random variables, which of the following identities is false?

A) Cov(X, Y) = 1 B) Cov(X, Y) = 0 C) E(X + Y) = E(X) + E(Y) D) Var(X + Y) = Var(X) + Var(Y)

Business

Use Table 12-2 from your text to calculate the amount of the periodic payment required to amortize (pay off) the loans, rounding to the nearest cent: Loan Payment Term of Nominal Interest Present Value Payment Period Loan Rate Compounded (Amount of Loan) _________ every month 18% monthly $750

What will be an ideal response?

Business