Users of financial statements have a different perception concerning the nature of auditors services than the actual

Question:

Users of have a different perception concerning the nature of auditors’ services than the actual objectives of an audit. This difference is known as.
a. Diverse liability perception.
b. Reasonable foreseeable third parties.
c. Insurance hypothesis.
d. Expectations gap.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...