Relevant Competitive Tests:
What would most effectively describe the risk of incorrect acceptance in terms of substantive audit testing?
A. The auditor has ascertained that the balance is materially correct when in actual fact it is notCorrect Answer
B. The auditor concludes the balance is materially misstated when in actual fact is not
C. The auditor has rejected an item from sample which was not supported by documentary evidence
D. He applies random sampling on data which is inaccurate and inconsistent
Correct Option: A. The auditor has ascertained that the balance is materially correct when in actual fact it is not
This question has been verified by the PakPrep community moderation network for competitive examination accuracy.
Subject Overview
Explore thousands of solved past paper MCQs for Auditing Mcqs categorized with explanations.
Browse All Auditing Mcqs MCQs →