Question: Managements responsibility for the financial statements includes: (a) Selecting internal controls tests. (b) Selecting samples for audit testing. (c) Selecting and applying appropriate accounting policies.

Management’s responsibility for the financial statements includes: 

(a) Selecting internal controls tests. 

(b) Selecting samples for audit testing. 

(c) Selecting and applying appropriate accounting policies. 

(d) Selecting experts to assist with testing asset valuations.

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