ACC 562 Final Exam Guide
ACC 562 Final Exam Guide
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1. Developing an understanding of the client ' s business and industry is essential to proficiency as discussed in the general standards of GAAS.( Points: 4) True False
2. Ratio analysis only involves a year-to-year comparison of account balances.( Points: 4) True False
3. Control is considered to be part of corporate governance.( Points:
4) True False
4. When control risk is assessed at a maximum level, the auditor assumes that the internal controls are reliable in preventing or detecting material misstatements.( Points: 4) True False