Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk. Audit risk has its three components; inherent risk, control risk, and detection risk. To choose: The combination of two components of audit risk that is refereed by risk of material misstatement.

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Answer 1

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Chapter 4, Problem 4.15MCQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

Audit risk has its three components; inherent risk, control risk, and detection risk.

To choose: The combination of two components of audit risk that is refereed by risk of material misstatement.

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Answer 2

Question

Chapter 4, Problem 4.15MCQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

Audit risk has its three components; inherent risk, control risk, and detection risk.

To choose: The combination of two components of audit risk that is refereed by risk of material misstatement.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 4, Problem 4.15MCQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

Audit risk has its three components; inherent risk, control risk, and detection risk.

To choose: The combination of two components of audit risk that is refereed by risk of material misstatement.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 4, Problem 4.15MCQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

Audit risk has its three components; inherent risk, control risk, and detection risk.

To choose: The combination of two components of audit risk that is refereed by risk of material misstatement.

Expert Solution & Answer

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Answer 5

Chapter 4, Problem 4.15MCQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

Audit risk has its three components; inherent risk, control risk, and detection risk.

To choose: The combination of two components of audit risk that is refereed by risk of material misstatement.

Answer 6

Chapter 4, Problem 4.15MCQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

Audit risk has its three components; inherent risk, control risk, and detection risk.

To choose: The combination of two components of audit risk that is refereed by risk of material misstatement.

Answer 7

Chapter 4, Problem 4.15MCQ

To determine

Concept Introduction:

Audit risk is a risk that audit may provide an inappropriate opinion on the basis of his findings during the audit. There are some inherent risks and avoidable risk which result in an audit risk.

Audit risk has its three components; inherent risk, control risk, and detection risk.

To choose: The combination of two components of audit risk that is refereed by risk of material misstatement.

Answer 8

Expert Solution & Answer

Answer 9

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Answer 10

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Answer 11

Ch. 4 - Prob. 4.1RQ Ch. 4 - Prob. 4.2RQ Ch. 4 - Prob. 4.3RQ Ch. 4 - Prob. 4.4RQ Ch. 4 - Prob. 4.5RQ Ch. 4 - Prob. 4.6RQ Ch. 4 - Prob. 4.7RQ Ch. 4 - Prob. 4.8RQ Ch. 4 - Prob. 4.9RQ Ch. 4 - Prob. 4.10RQ

Solution Summary: The author explains that audit risk is a risk that auditor may provide an inappropriate opinion on the basis of his findings during the audit.

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Chapter 4 Solutions