Distinguish between inherent risk and control risk. How do internal controls and detection risk fit in?
What will be an ideal response?
Inherent risk is associated with the unique characteristics of the business or industry of the client. Firms in declining industries are considered to have more inherent risk than firms in stable or thriving industries. Control risk is the likelihood that the control structure is flawed because internal controls are either absent or inadequate to prevent or detect errors in the accounts. Internal controls may be present in firms with inherent risk, yet the financial statements may be materially misstated due to circumstances outside the control of the firm, such as a customer with unpaid bills on the verge of bankruptcy. Detection risk is the risk that auditors are willing to accept that errors are not detected or prevented by the control structure. Typically, detection risk will be lower for firms with higher inherent risk and control risk.
PTS: 1
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What is the output of the following code?
``` public class Test { public static void main(String[] args) { String s1 = "Welcome to Java!"; String s2 = "Welcome to Java!"; if (s1 == s2) System.out.println("s1 and s2 reference to the same String object"); else System.out.println("s1 and s2 reference to different String objects"); } } ``` a. s1 and s2 reference to the same String object b. s1 and s2 reference to different String objects
(Math Library Functions) Write a program that tests as many of the math library functions in Fig. 5.2 as you can. Exercise each of these functions by having your program print out tables of return values for a diversity of argument values.
What will be an ideal response?
________ text is not appropriate when text must line up neatly in columns and rows
A) Monospaced B) Fixed-width C) Proportional D) Evenly-spaced
DHCP delivers the necessary configuration information to clients to tell them the addresses of their IP gateways.
Answer the following statement true (T) or false (F)