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What is the term used for information that should be collected from a source which can be verified, for example, the Nation News? a. Reliability b. Completeness c. Accuracy d. Bias

What is the term used for information that should be collected from a source which can be verified, for example, the Nation News? a. Reliability b. Completeness c. Accuracy d. Bias

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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What is the term used for information that should be collected from a source which can be verified, for example, the Nation News?

a.

Reliability

b.

Completeness

c.

Accuracy

d.

Bias

Expert Solution
Step 1 Introduction

Bank accounts, management accounts, payrolls, bank statements, invoices, and receipts are some examples of evidence that may be found during an audit. Evidence that is adequate, credible, supplied by a suitable source, and relevant to the audit being performed should be considered good auditing evidence.

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