Question: ( 1 0 . 7 ) True or false: If the auditor plans to obtain many sources of evidence regarding an assertion for an account

(10.7)

True or false: If the auditor plans to obtain many sources of evidence regarding an assertion for an account balance, he or she would most likely have a higher tolerable deviation rate when testing an internal control for reliance purposes.

True

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

True or false: If an auditor plans to obtain multiple types of evidence regarding an assertion for an account balance, she would most likely set a lower tolerable deviation rate when testing an...

Hi, I am taking accounting class (Auditing & Assurance Services). Please provide original homework. Type up to two pages ( about 500-600 words) and must answer questions clearly. I have solutions for...

Hi, I am struggling with my homework which is related to auditing class. Please provide original homework. Type up to two pages ( about 500-600 words) and must answer questions clearly. I have...

I have attached two articles that needs to read and reviewed and then...

The scribes of ancient Egypt were the forerunners of today's accountants. a. True b. False Possible Exam 1 Questions Chapter 1: 3. The scribes of ancient Egypt were the forerunners of today's...

MULTIPLE-CHOICE QUESTIONS 1. Which of the following statements best describes what is meant by the term appropriateness of audit evidence? a. Appropriateness is a measure of the quality of audit...

Can anyone help me with this or already have the solution this whole Finance Workbook for Madura Personal Finance, Third Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK INDEX Chapter...

Hi. I need Chapter 11 part 1-4 Let me know. Thanks! (it wont letme add more than $8, but I will give $12+ tip) Personal Finance, Fifth Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK...

I need Chapter 2 & 3 finished. Chapter 4 & 5, Chapter 6 & 7, & Chapter 8. Some of this is completed, but it isn't 100% finished. Let me know if you can get to it. Personal Finance, Fifth Edition by...

An invoice is dated May 26 and has terms of 2/10, n/25. The total bill is $826.44, with $108.12 of returned merchandise and $67.37 of freight. a. Calculate discount date, due date, cash discount and...

The Oakville Yacht Society has the following lump-sum payments to make to members. Required: Calculate the present value for each lump-sum payment. Lump-Sum Payments $320,000 400,000 Amount to be...

Which of the following techniques or strategies would most likely take advantage of a perceived undervaluation in the technology sector of the economy? Group of answer choices Dollar cost averaging...

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...