QUESTION 1

Inherent risk and control risk differ from detection risk in that they:

	A.	Are components of RMM
	B.	May be assessed in either quantitative or nonquantitative terms.
	C.	Can be measured without error by the auditor.
	D.	Exist independently of the financial statement audit.
	E.	Both A&D

QUESTION 2

All else held equal, would higher control risk imply more work for the auditor or less work for the auditor?

a.more work b.Fewer work

QUESTION 3

1. All else held equal, would higher engagement risk imply more work for the auditor or less work for the auditor?

   a. more work b. less work

QUESTION 4

All else held equal, would higher audit risk imply more work for the auditor or less work for the auditor?

a.more work b. less work