Question

same 10 options for each question

Statements the allowance for doubtul accounts, establishing warranty reserves, and assessing assets tor impairment are examples ofthat involve judgments or assumptions. 2. The achievement of overall control objectives is pervasively affected by controls 3. Maintaining effective internal control is the responsibity of the Significant financial statement accounts are materially affected, either directly through entries in the general ledger, or indirectly through the creation of rights or obligations that may or may not be recorded in the general ledger by f the auditors conclude that material weaknesses exist in internal control they should issue a written communication 5 to management and the in which they indicate that the audit of internal control cannot be completed. Answer 1. as of 2. board of directors 3. Committee of Sponsoring Organizations 4. entity level Answer s. major classes of transactions 6. management 7 management estimates 8. material weakness 9. relevant assertion 10.sauriİlk:ani: dciǐKKTH.Y on

Answer 1

Ans: Solution is as follows:-

1) Management estimates.

2) Material weakness.

3) Management.

4) Relevant assertion.

5) Major classes of transactions.