7. All of the following describes the importance of quantitative research except one. Which is the exception?A. It lies greatly in the production of results that should reflect precise measurement and an in-depth analysis of data.B. It is useful in obtaining an objective understanding of people, things, places and events in this world.C. ii depends un the infiateu meaning iêsuiting from the iêseaicher's bias oi personai attachment to things related to rescarchD It is used to obtain information about specified personality traits of a group member as regards to the extent ofthe relationship of their characteristics and the reason behind the instability of some people's characteristics.

Quantitative research represents the collection and analysis of numerical data. It would be used to…

Answered: . All of the following describes the…

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter6: A Framework For Audit Evidence

Section: Chapter Questions

Problem 22MCQ

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Does the MM theory appear to be correct according to either empirical research or observations offirms’ actual behavior? How do assumptions affectyour conclusion about whether the MM theoryappears to be correct?
TRUE OR FALSE When making materiality judgments, a quantitative assessment alone is not always sufficient to conclude that an item of information is not material Materiality judgments apply only to items that are recognized - but not to those that are unrecognized The more significant the qualitative factors are, the lower the quantitative thresholds will be. Thus, an item with a zero amount can be material in light of qualitative thresholds. When making materiality judgments, an entity should judge an item’s materiality only on its own and not in combination with other information in the complete set of financial statements The Conceptual Framework and the Standards specify a uniform quantitative threshold for materiality To meet the objectives of general-purpose financial reporting, a Standard sometimes contains requirements that depart from the Conceptual Framework The Conceptual Framework is concerned with the provision of financial information to both external users and internal…
6. Which of the following is NOT an advantage of using sensitivity analysis? A It identifies the impact a change in an estimate would have on the result B It gives an idea of the worst possible outcome C It shows where further investigation might be useful D It provides useful information for decision making
29. This term means an engagement in which a practitioner expresses a conclusion designed to enhance the degree of confidence of the intended users other than the responsible party about the outcome of the evaluation or measurement of a subject matter against criteria. Group of answer choices Assurance Internal Audit None of the choices Operations Audit Consultancy
Discuss, using examples, how the strengths of the scientific approach are also its weaknesses.
To be useful, information must have which of the following fundamental qualitativecharacteristics?a. Relevance and faithful representationb. Timeliness and affordabilityc. Expediency and relevanced. Faithful representation and diversity
The preliminary judgement about materiality is the ______________ amount by which the auditor believes the statements could be misstated and still not affect the economic decisions of users. The missing word in this sentence is: a. Average b. Minimum c. Maximum d. Median
Indicate whether the following sentences are true or false: (T/F)11.Some of the points may be observed by a researcher in selecting a research problem are: Subject which is overdone should not be normally chosen, for it will be a difficult task to throw any new light in such a case and controversial subject should not become the choice of an average researcher
Which of the following would not result in exposure to nonsampling risk?a. Measuring the characteristic of interest in an inappropriate manner.b. Selecting items that are not representative of the population of interest.c. Making an unintentional mistake in measuring the characteristic of interest.d. All of the above would result in exposure to nonsampling risk.
Which of the following statements about intuitive approaches is/are false? -Ignoring or discounting items that are complex or not understood well. -Little (formalised) thinking about risks, uncertainties and unknowns. -Rapid decision-making, with a bias to reinforce initial conclusions. -Lack of transparency into decision criteria and the importance placed on various items. -All statements about intuitive approaches are true.
Comparability, understandability, timeliness, and verifiability are enhancing qualitative characteristics that contribute to: Relevance Faithful Representation a. Yes No b. No No c. No Yes d. Yes Yes
I. Since assurance engagements are executed on a sampling basis, absolute assurance is not attainable.II. In limited assurance engagements, a negative form of conclusion is signed off by a practitioner. Group of answer choices Statement I is true; Statement II is false. Both statements are false. Both statements are true. Statement I is false; Statement II is true.

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