What would most appropriately describe the risk of incorrect rejection in terms of substantive testing??

Audit Mcqs
BILAL KHATTAK0

A. The auditor concludes balance is materially correct when in actual fact it is not 
B. The auditor concludes that the balance is materially misstated when in actual fact it not  
C. The auditor has rejected an item for sample which was material
D. None of the above

Related Mcqs:

  1. What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing??
  2. Which of the following describes sampling risk??
  3. In an audit of financial statements, substantive tests are audit procedures that __________??
  4. Which of the following statements is most closely associated with analytical procedure applied at substantive stage??
  5. Seed testing means:
  6. The nature, timing and extent of substantive procedures is related to assessed level of control risk?
  7. Residual magnetism is
  8. Which of the following is correct in relation to materiality??
  9. Which of the following statements is incorrect regarding capital account??
  10. Identify the incorrect statement about true stress-strain method

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