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NEW QUESTION: 1
The majority of developed countries require publicly quoted companies and large companies to produce annual financial statements which are then audited by an external auditor.
Which of the following statements regarding the requirement for external audit is Incorrect?
A. As the directors are responsible for the day-to-day management of the company, they hold more detailed information which is resolved by the presentation of financial statements to the shareholders and there is a need for this to be assured by independent external audit
B. As the directors are responsible for the day-to-day management of the company, they hold more detailed information which is resolved by the presentation of financial statements to the shareholders and this needs to be guaranteed by independent external audit.
C. Independent external audit gives confidence in the financial statements which is required as the directors have incentives to manipulate the financial statements presented to the shareholders
D. Independent external audit gives confidence in the financial statements by including the auditor's opinion on whether or not they show a true and fair view.
Answer: B
NEW QUESTION: 2
Which method of passing parameters is preferred for its performance?
Please choose the correct answer.
Response:
A. Pass by reference
B. Pass by subclass
C. Pass by value
D. Pass by class
Answer: A
NEW QUESTION: 3
Which of the following is considered an important factor when selecting a financial service provider?
A. Expertise of bank personnel
B. Country of origin
C. CAMELS score
D. Timely response to the RFP
Answer: A
