Answer:
Explanation:
Step 1:
the auditor is required to provide reasonable assurance for the financial statement audited.To provide such reasonable assurance,appropriate evidence must be obtained to confirm that no material misstatement material is present in the financial statement
Step 2:
For each statement select true or false in the following manner
a. A recent improvement in computer hardware is the ability to automatically produce error listings. Previously, this was possible only when provisions for such a report were included in the program.
FALSE
b. The control of input and output to and from the information systems department should be performed by an independent data control group.
TRUE
c. An internal-audit computer program that continuously monitors IT processing is a feasible approach for improving internal control in OLRT systems.
TRUE
d. An internal label is one of the controls built into magnetic tape drive hardware by the hardware manufacturers.
FALSE
e. A limit test in a computer program is comparable to a decision that an individual makes in a manual system to judge a transaction's reasonableness.
TRUE
f. A principal advantage of using magnetic tape files is that data need not be recorded sequentially.
FALSE
g. A major advantage of disk files is the ability to gain random access to data on the disk.
TRUE
h. The term grandfather-father-son refers to a method of protecting computer records rather than to generations in the evolution of computer hardware.
TRUE
i. When they are not in use, tape and disk files should be stored apart from the computer room under the control of a librarian.
TRUE
Answer:
The Hi-Stakes Company
a. If the direct exchange rate increases, the dollar strengthens relative to the other currency.
b. If the indirect exchange rate increases, the dollar also strengthens relative to the other currency.
Explanation:
When the exchange rate increases, it means that more of the other currency is required in order to embark on importing and exporting transactions. However, the increases will weaken the ability of the importing currency to afford the dollar-based goods, which have then being made more expensive.
Answer:
The correct answer is option D.
Explanation:
A change in the quantity demanded is a movement along the same demand curve. It is caused because of a change in the price of the product while other factors affecting demand remain constant.
A change in demand is shown by a movement in the demand curve. This is caused by changes in other factors such as income, population, preferences, price of other goods, etc, while the price of the product remains constant.
Answer:
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