Question: If the tolerable rate is set between _ _ _ and _ _ _ , the auditor will not be able to tolerate many deviations

If the tolerable rate is set between ___ and ___, the auditor will not be able to tolerate many deviations and assess control risk as low.
Select answer from the options below
2%,7%
6%,12%
11%,20%
7%,12%

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!

Q:

Multiple Choice Questions 1. Which of the following is a step in an auditors decision to assess control risk below the maximum? a. Apply analytical procedures to both financial data and nonfinancial...

Q:

Please answer the multiple choice questions, given the answer only, no explanation needed. Thanks 18. The external auditors might consider the procedures performed by the internal auditors because:...

Q:

1. A set of characteristics that helps to define a seriousness about employees' attitudes about the control activities in a company is referred to as A. Management assertions. B. Control environment....

Q:

AUDITING THEORIES Part I. Multiple Choice 1) Arrange the following evidential items from the most to the least reliable in the audit of cash: (A) Bank reconciliation prepared by the bookkeeper, (B)...

Q:

21. Assuming the tolerable deviation rate is 5 percent, the expected population rate is 3 percent, and the allowance for sampling risk is 2 percent, what should an auditor conclude if tests of 100...

Q:

I need some *((familiar with Integrated Audit Practice case assignments))* to help me complete this assignment as soon as possible. There is each worksheet that needs to complete missing information....

Q:

Complete the following two assignments on sampling for attributes and upload your answer file on or before Tuesday, February 12 A. Review each of the following controls. Identify (1) the objective of...

Q:

You overheard the following dialogue between Joe Ashley (a staff assistant) and Monique Estrada (his supervisor). Required: Referring to appropriate professional standards, comment on each of these...

Q:

1. Which of the following auditor-provided services is NOT an attestation service? A. Audit of internal control over financial reporting B. Review of financial statements C. Audit of financial...

Q:

Socialites is an increasingly popular social network platform, and Sarah, a junior auditor, is helping with the risk of fraud assessment for this year's audit of the financial statements. She has...

Q:

Case Study: Ethical practices in business With the passage of time the Tasty Meal starts realizing the importance of CSR (Corporate Social Responsibility). Tasty meal now understands that being...

Q:

Teresa owns a condominium in Florida. During the current year, she incurs the following expenses related to the property: Mortgage interest ..... $10,200 Property taxes ....... 1,500 Utilities...

Q:

Calculate the cost of goods sold The Walker Manufacturing Company uses a predetermined overhead rate of $12 per direct labor hour, consisting of $7 for variable overhead and $5 for fixed overhead....

Q:

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...