The auditor notices significant fluctuations in key elements of the company's financial statements. If management is unable to provide an acceptable explanation, the auditor should:
A. consider the matter a scope limitation.
B. intensify the examination with the expectation of detecting management fraud.
C. withdraw from the engagement.
D. perform additional audit procedures to investigate the matter further.
Answer: D
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The theory of reciprocal demand does NOT well apply when one country
a. produces under constant-cost conditions. b. produces along its production possibilities frontier. c. is of minor economic importance in the world marketplace. d. partially specializes the production of its export good.
The United Kingdom has not adopted the euro as its currency
Indicate whether the statement is true or false
Which of the following would most likely lead to a company initiating a price increase?
A) weakened economy B) possession of outdated merchandise C) excess capacity D) over-demand E) possession of defective merchandise
An important aspect of ______ is assigning people to various tasks and jobs.
a. organizing b. leading c. controlling d. planning