Which of the following is least likely to be considered a financial statement audit risk factor?
A. Profitability of the entity relative to its industry is inconsistent.
B. A new client with no prior audit history.
C. Rate of change in the entity's industry is rapid.
D. Management operating and financing decisions are dominated by top management.
Answer: D
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Which task is NOT included in revising?
a. Rewriting an entire section of the report draft b. Adding or deleting information to the draft c. Checking for errors in grammar and punctuation d. Checking accuracy and completeness of the draft
An entrepreneurial strategy has three key stages-the generation of a new entry opportunity, the exploitation of a new entry opportunity, and a feedback loop back to the first stage.
Answer the following statement true (T) or false (F)
A void title may allow good title to pass in special circumstances
a. True b. False Indicate whether the statement is true or false
The number of firms a company must face, the relative size of these firms, and the degree of interdependence within the industry are all part of its _____ environment.
A. demographic B. economic C. political D. competitive E. social