Which of the following statements is wrong regarding continuous audit?
A. Continuous audit is used to perform audit-related activities on a continuous basis.
B. Technology plays a key role in continuous audit in analyzing trends and patterns of transactions, identifying exceptions and anomalies, and testing controls.
C. Testing in continuous audits often consists of continuous controls monitoring and continuous data assurance.
D. Continuous audit is frequently used to perform substantive tests and is used for testing of controls through transactional-data analysis.
Answer: D
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a. Unusual or infrequent item disclosed separately b. Discontinued operations c. Extraordinary loss d. Cumulative effect of change in accounting principle e. Unusual or infrequent item disclosed separately and discontinued operations are both not disclosed net of tax
Cases of federal ________ are especially likely to arise in matters pertaining to interstate commerce, such as when a local regulation imposes a substantial burden on the flow of interstate commerce through a particular state
A) redemption B) exemption C) preemption D) redaction
What is wireless fidelity (Wi-Fi)?
A. A means by which portable devices can connect wirelessly to a local area network, using access points that send and receive data via radio waves. B. A metropolitan area network that uses radio signals to transmit and receive data. C. The inner workings of a Wi-Fi service or utility, including the signal transmitters, towers, or poles and additional equipment required to send out a Wi-Fi signal. D. A communications technology aimed at providing high-speed wireless data over metropolitan area networks.
Genetic testing is not considered a serious intrusion into the privacy of the employees by an employer
Indicate whether the statement is true or false