Identify the auditing characteristics.
Answer to Problem 1CQ
Option d
Explanation of Solution
Auditing: The systematic process of evaluating and calculating the accounting information provided by the company and communicating the dependability and relevance of accounting information to the stakeholders is referred to as auditing.
Option (d):
The Option d, all of the given characteristics is the correct answer.
Option (a):
The systematic process is one of the characteristics of auditing. Therefore, Option a, is an incorrect answer.
Option (b):
The collection and evaluation of evidence is one of the characteristics of auditing. Therefore, Option b, is an incorrect answer.
Option (c):
The establishing criteria for evidence evaluation is one of the characteristics of auditing. Therefore, Option c, is an incorrect answer.
Therefore, Option (d) is the correct answer.
Want to see more full solutions like this?
Chapter 11 Solutions
Accounting Information Systems (14th Edition)
- Global Inc. bought 18,000 shares of Creative Co.'s stock for $245,000 on June 8, 2012, classified as available for sale. Market value declined to $142,000 by December 31, 2012. Global reclassified this as trading securities in December 2013 when market value rose to $198,000. What effect on 2013 income should Global report for Creative Co. shares? correct answerarrow_forwardBoAt Company had no beginning inventory and adds all materials at the very beginning of its only process. Assume 31,300 units were started, and 14,500 units completed. The ending work in process is 82% complete. The equivalent units for conversion costs is _. Need helparrow_forwardHi expert please help this questionarrow_forward
- nonearrow_forwardExpress the gross profit amount as a percentage of the sales amount for dysonarrow_forwardStereotypes are often depicted in films. Choose any film that portrays some form of stereotypes. In your analysis, complete the following: Briefly summarize the film Discuss three instances of stereotyping in the film. Then, answer the following questions about the stereotypes in the film: How did the stereotypes originate? How did the characters respond to the stereotypes? What are the positive/negative effects of the stereotypes on the communication between the characters?arrow_forward
- answer plzarrow_forwardBoAt Company had no beginning inventory and adds all materials at the very beginning of its only process. Assume 31,300 units were started, and 14,500 units completed. The ending work in process is 82% complete. The equivalent units for conversion costs is _.arrow_forwardWhat is the total net gain or loss on this transaction? Accountingarrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education