Which statement is incorrect regarding audit evidence?Select one:a.Audit evidence is cumulative in nature.b.Audit evidence is all the information used by the auditor in arriving at the conclusions on which the audit opinion is based.c.Auditors are expected to address all information that may exist.d.Audit evidence includes the information contained in the accounting records underlying the financial statements and other information.

Which of the following statements is incorrect regarding relevance of audit evidence?Select one:a.A given set of audit procedures may provide audit evidence that is relevant to certain assertions, but not others.b.Obtaining audit evidence relating to a particular assertion is a substitute for obtaining audit evidence regarding another assertion.c.The auditor often obtains audit evidence from different sources or of a different nature that is relevant to the same assertion.d.None of the above

Audit evidence only comprises information that supports and corroborates management's assertions, and any information that contradicts such assertions.Select one:TrueFalse

Which of the following generalizations in assessing the reliability of audit evidence is incorrect?Select one:a.Audit evidence that is generated internally is not affected by the effectiveness of the controls imposed by the entity.b.Audit evidence is more reliable when it exists in documentary form.c.Audit evidence obtained directly by the auditor is more reliable than audit evidence obtained indirectly or by inference.d.Audit evidence is more reliable when it is obtained from independent sources outside the entity.

Which statement is incorrect regarding Inspection as an audit procedure?Select one:a.Inspection consists of examining records or documents or physical examination of assets.b.Inspection of individual inventory items ordinarily accompanies the observation of inventory counting.c.Inspection of tangible assets may provide reliable audit evidence with respect to their existence and about the entity's rights and obligations on the assets.d.Some documents represent direct audit evidence of the existence of an asset.Clear my choice

Which of the following factors is most important in determining the appropriations of audit evidence? A. The quantity of audit evidence B. The reliability of audit evidence and its relevance in meeting the audit objective C. The objectivity and integrity of the auditor D. The independence of the source of evidence