26. The susceptibility of an assertion to a material misstatement, assuming that

Question

26.
The susceptibility of an assertion to a material misstatement, assuming that there are no controls, is:



a.
audit risk.



b.
control risk.



c.
analytical procedures risk.



d.
inherent risk.



e.
tests of details risk.







27.
The risk that the auditor may unknowingly fail to appropriately modify his or her opinion on financial statements that are materially misstated is:



a.
analytical procedures risk.



b.
control risk.



c.
tests of details risk.



d.
inherent risk.



e.
audit risk.







28.
The risk that a material misstatement that could occur in an assertion will not be prevented or detected on a timely basis by the entity

Explanation / Answer

Solutions:

1c

2d

3b

4e

5a

6a

7c

8b

9d

10d

11a

12e

13b

14b

15b

16a

17d

18b

19d

20e

21c

22d

23e

24a

25d

26b

27e

27c

28a

29c

29e

30a

31a

32c

33a

34e

35d

35d

35a

37c

38e

39b

40d

41a

42d

43a

44e

45a

46e

47a

48d

49b

50d

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