Question: A . Inherent risk and control risk differ from planned detection risk in that they 1 . arise from the misapplication of auditing procedures. 2

A. Inherent risk and control risk differ from planned detection risk in that they
1. arise from the misapplication of auditing procedures.
2. may be assessed in either quantitative or nonquantitative terms.
3. exist independently of the financial statement audit.
4. can be changed at the auditors discretion.

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