1. Decision makers vary widely in the types of decisions they make, the methods of decision making they employ, the information they already possess or can obtain from other sources, and their ability to process information. Consequently, for information to be useful there must be a linkage between these users and the decisions they make. This link is: a. relevance. b. reliability. c. understandability. d. materiality. 2. Which of the following is not a major challenge facing the accounting profession: a. Nonfinancial measurements b. Accounting for hard assets.
1. Decision makers vary widely in the types of decisions they make, the methods of decision making they employ, the information they already possess or can obtain from other sources, and their ability to process information. Consequently, for information to be useful there must be a linkage between these users and the decisions they make. This link is: a. relevance. b. reliability. c. understandability. d. materiality. 2. Which of the following is not a major challenge facing the accounting profession: a. Nonfinancial measurements b. Accounting for hard assets.
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter8: Specialized Audit Tools: Attributes Sampling, Monetary Unit Sampling, And Data Analytics Tools
Section: Chapter Questions
Problem 38CYBK
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![1. Decision makers vary widely in the types of decisions they make, the methods of decision
making they employ, the information they already possess or can obtain from other sources,
and their ability to process information. Consequently, for information to be useful there
must be a linkage between these users and the decisions they make. This link is:
a. relevance.
b. reliability.
c. understandability.
d. materiality.
2. Which of the following is not a major challenge facing the accounting profession:
a. Nonfinancial measurements
b. Accounting for hard assets.
c. Timeliness.
d. Forward-looking information.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F848c2811-e15a-4e70-9f23-359ec927ce6a%2F9f97b821-c07c-4549-b872-d9df9374a082%2F1x4g4p_processed.png&w=3840&q=75)
Transcribed Image Text:1. Decision makers vary widely in the types of decisions they make, the methods of decision
making they employ, the information they already possess or can obtain from other sources,
and their ability to process information. Consequently, for information to be useful there
must be a linkage between these users and the decisions they make. This link is:
a. relevance.
b. reliability.
c. understandability.
d. materiality.
2. Which of the following is not a major challenge facing the accounting profession:
a. Nonfinancial measurements
b. Accounting for hard assets.
c. Timeliness.
d. Forward-looking information.
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