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A B C D In auditing a non-public company, the auditor will test the internal control under which of the following situations? AR IR CR Does the auditor plan to Cost of Internal Cost of Substantive Control Testing Testing rely on Internal Control? 5% 5% 5% 5% 50% 50% 50% 50% 100% 50% 50% 80% NO YES YES NO N/A $8,000 $5,000 $3,000 $24,000 $18,000 $18,000 $20,000

A B C D In auditing a non-public company, the auditor will test the internal control under which of the following situations? AR IR CR Does the auditor plan to Cost of Internal Cost of Substantive Control Testing Testing rely on Internal Control? 5% 5% 5% 5% 50% 50% 50% 50% 100% 50% 50% 80% NO YES YES NO N/A $8,000 $5,000 $3,000 $24,000 $18,000 $18,000 $20,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A B Q D Multiple Choice Exercise In auditing a non-public company, the auditor will test the internal control under which of the following situations? AR IR CR Does the Cost of Internal Cost of Substantive Control Testing Testing 5% 5% 5% 5% 50% 50% 50% 50% 100% 50% 50% 80% auditor plan to rely on Internal Control? NO YES YES NO N/A $8,000 $5,000 $3,000 $24,000 $18,000 $18,000 $20,000
Transcribed Image Text:A B Q D Multiple Choice Exercise In auditing a non-public company, the auditor will test the internal control under which of the following situations? AR IR CR Does the Cost of Internal Cost of Substantive Control Testing Testing 5% 5% 5% 5% 50% 50% 50% 50% 100% 50% 50% 80% auditor plan to rely on Internal Control? NO YES YES NO N/A $8,000 $5,000 $3,000 $24,000 $18,000 $18,000 $20,000
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