Bundle: Auditing: A Risk Based-approach, 11th + Mindtap Accounting, 1 Term (6 Months) Printed Access Card
Bundle: Auditing: A Risk Based-approach, 11th + Mindtap Accounting, 1 Term (6 Months) Printed Access Card
11th Edition
ISBN: 9781337734455
Author: Karla M Johnstone-zehms, Audrey A. Gramling, Larry E. Rittenberg
Publisher: Cengage Learning
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Chapter 7, Problem 7CYBK
To determine

Introduction: It is about correct statement about appropriate directional relationship

To choose: The correct option out of four options which represents the appropriate directional relationship.

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Which of the following is a correct? Select one: a. Planned detection risk and inherent risk have an inverse relationship. b. All of the above are correct relationships. c. Acceptable audit risk and planned detection risk have an inverse relationship. d. Control risk and planned detection risk have a direct relationship.
Which of the following risks does the auditor least control? a. inherent risk b. control risk c. detection risk d. all are equally controllable
The audit risk model consists of: AR = IR x R x DR. The detection risk is the dependent variable. What is the acceptable level ofdetection risk if the assessed level of inherent risk is HIGH and the control risk is MEDIUM?   a. Higher b. Lower c. Lowest d. Medium
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