Which of the following business characteristics is not indicative of high inherent risk? A. Operating results that

Fantastic news! We've Found the answer you've been seeking!

Question:

Which of the following business characteristics is not indicative of high inherent risk?

A. Operating results that are highly sensitive to economic factors.

B. Large likely misstatements detected in prior audits.

C. Substantial turnover of management.

D. A large amount of assets.

Related Book For answer-question

Principles of Auditing and Other Assurance Services

ISBN: 978-0078025617

19th edition

Authors: Ray Whittington, Kurt Pany

See More Books

Posted Date: Oct 30, 2022 01:22 AM

See More Questions

Which of the following economic variables are stock variables, and which are flow variables?
Which of the following risk types increase when an auditor performs substantive analytical audit procedures for financial statement accounts at an interim date? a. Inherent. b. Control. c. Detection....
Which of the following questions would auditors most likely include on an internal control questionnaire for notes payable? a. Are assets that collateralize notes payable critically needed for the...
A cost function is a mathematical expression of how cost drivers affect a particular cost. However, an intuitive understanding of cost functions is just as important as being able to write the...
Students began evaluating college courses during the 1960s. Why do you think course evaluations were introduced?
A cannon tilted upward at 30 fires a cannonball with a speed of 100 m/s. What is the component of the cannonballs velocity parallel to the ground?
The adjusted trial balance for Country Cookin Catering, Inc., is presented next. Prepare the income statement, statement of retained earnings, and balance sheet for Country Cookin Catering, Inc., for...
When customers purchase a service, they are actually getting a bundle of service attributes. List and describe these attributes using a car-rental agency, a convenience store and a radio station.
Income Statement Statement of Owners Equity Balance Sheet Prepare the statement of owner's equity for the year ended December 31. The Stark, Capital account balance was $138,800 on December 31 of the...
Julio and Milania are owners of Falcons Corporation, an S corporation. They each own 50 percent of Falcons Corporation. In year 1, Julio and Milani received distributions of $20,000 and $10,000,...
Solve letter F using Enhance Bob Maneuver Method. here is the step by step example of enhance bob maneuver method: there is a problem in letter h here are the answers in letter f. Subnet 1 =...
A limited company wishes to change over from the written down value method of providing depreciation which it has hitherto been following to the straight-line method. The company seeks your opinion...
What impact, if any, will advances in technology have on survey research practices? Support your thoughts.
Explain the main differences between interval and ratio scale measurements.
How does activating scaling properties determine the amount of data and information that can be derived from measurement scales?
Develop a list of the factors used to select from person-administered, telephone-administered, selfadministered, and computer-assisted survey designs. Then discuss the appropriateness of those...
An exciting and urgent engineering challenge in the decades immediately ahead is to responsibly meet our national power needs. The challenge has its roots in the declining economically recoverable...
On October 1, 2014, the Dow Jones Industrial Average (DJIA) opened at 17,042 points. During that day it lost 237 points. On October 2 it lost 4 points. On October 3 it gained 209 points. Deter-mine...
Assume that you are auditing the financial statements of Agee Corporation. During the course of the audit, you discover the following circumstances. 1. Management of Agee has decided to discontinue...
Provide a list of the types of unmodified and modified audit opinions.
What auditing procedures, if any, are necessary for notes receivable but not required for accounts receivable?
Compute the mean effect size and its confidence limits.
Kapoor et al. (2011) collected data on the treatment of myeloma, which is a cancer of the blood. (You may think that this has little to do with psychology, but I have myeloma, and I take a...
Why does it make little sense to look for heterogeneity of effect sizes in this example?

Which of the following business characteristics is not indicative of high inherent risk? A. Operating results that

Question:

Expert Answer:

Inherent risks are also analysed by the auditors along with the cont... View the full answer

Principles of Auditing and Other Assurance Services

Students also viewed these accounting questions