What two goals were inherent in the idea of socialism?

What two goals were inherent in the idea of socialism?
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Audit programs should be designed so that a. Most of the required procedures can be performed as interim work. b. The audit evidence gathered supports the auditor’s conclusions. c. Inherent risk is assessed at a sufficiently low level. d. The auditor can make constructive suggestions to management

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The probability of an auditor's procedures leading to the conclusion that a material error does not exist in an account balance when, in fact, such error does exist is referred to as a. Prevention risk. b. Inherent risk. c. Control risk. d. Detection risk

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Audit risk components consist of inherent, control and detection risks. Which of them is are dependent variable(s)? a. Inherent risk b. Control risk c. Detection risk d. Inherent and control risks

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Which of the following statements is an not an example of an inherent limitation of internal control? a. The effectiveness of control procedures depends on segregation of duties. b. Errors may arise from mistakes in judgments. c. Most internal controls tend to be directed at routine transactions rather than nonroutine transactions. d. The cost-benefit relationship is a primary criterion in designing internal contro

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In the preparation of an audit program, which of the following items is not essential? a. Assessment of inherent risk b. The preparation of a budget identifying the costs of resources needed c. A review of material from prior audits d. An understanding of controls established by management

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The type of transactions that ordinarily have a high inherent risk because they involve management judgments or assumptions are referred to as a. Estimation transactions. b. Nonroutine transactions. c. Related-party transactions. d. Routine transactions

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Most auditors assess inherent risk as high for related parties and related-party transactions because a. Of the accounting disclosure requirement. b. Of the lack of independence between the parties. c. Both a and b. d. It is required by generally accepted accounting principles

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Which of the following is not an inherent risk that is common to all clients in certain industries? a. Accounts receivable collection in the consumer loan industry. b. Potential inventory obsolescence in the fashion clothes industry. c. Brand loyalty in the cosmetics industry. d. Reserve for loss in the casualty insurance industry

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A successor auditor most likely would make specific inquiries of the predecessor auditor regarding a. Specialized accounting principles of the client's industry. b. Disagreements with management as to auditing procedures. c. The competency of the client's internal audit staff. d. The uncertainty inherent in applying sampling procedures.

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Before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding a. Disagreements the predecessor had with the client concerning auditing procedures and accounting principles. b. The predecessor’s evaluation of matters of continuing accounting significance. c. The degree of cooperation the predecessor received concerning the inquiry of the client’s lawyer. d. The predecessor’s assessments of inherent risk and judgments about materiality

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The risk that the auditor's own work will lead to the decision that material misstatements do not exist in the financial statements, when in fact such misstatements do exist, is a. Control risk b. Detection risk c. Inherent risk d. Audit risk

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Last Answer : Audit risk

Absolute assurance is not attainable as a result of such factors as: a. The use of judgment. b. The use of selective testing. c. The inherent limitations of control systems. d. All of the above

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Last Answer : All of the above