Answered: Which of the following presumptions…

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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Which of the following presumptions does NOT relate to the reliability of evidence?

A. the more effective the internal control structure, the more assurance it provides about the accounting data and financial statements.

B.an auditor's opinion, to be economically useful, is formed within reasonable time and based on evidence obtained at a reasonable cost.

C. evidence obtained from independent sourcesoutside the entity is more persuasive than evidence secured solely within the entity.

D. the independent auditor's direct personal knowledge, obtained through observation and inspection, is more persuasive than information obtained indirectly.

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