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Quiz M 3 Auditing

Quiz M 3 Auditing - View Attempt 1 of 1 Title M03 Started...

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View Attempt 1 of 1 Title: M03 Started: January 26, 2009 3:07 PM Submitted: January 26, 2009 4:04 PM Time spent: 00:56:43 Total score: 7/10 = 70% Total score adjusted by 0.0 Maximum possible score: 10 1. A properly planned and performed audit may fail to detect a material misstatement resulting from fraud because Student Response Value Correct Answer Feedback a. Audit procedures that are effective for detecting an error may be ineffective for fraud that is concealed through collusion 100% b. An audit is planned and performed to provide reasonable assurance of detecting material misstatements caused by errors but not by fraud 0% c. The factors considered in 0%
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assessing control risk indicated an increased risk of error but only a low risk of fraud in the financial statements d. The auditor did not consider factors influencing audit risk for account balances that have effects pervasive to the financial statements taken as a whole 0% Score: 1/1 2.
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