Read the overview below and complete the activities that follow. When performing a test of controls, auditors must be concerned with two aspects of sampling risk: assessing control risk too high and assessing control risk too low.
CONCEPT REVIEW:
Assessing control risk too high is the risk that the sample results will cause the auditors to assess control risk higher than warranted based on the actual operating effectiveness of the control. Assessing control risk too low is the more important risk that the sample results will cause the auditors to assess risk at a lower level than warranted.

a. Audit is affected when too much substantive testing is done.
b. Audit effectiveness is impacted when the auditor doesn't do enough
c. An audit needs to have the correct balance of efficiency and
d. Assessing the control risk too low results in an inappropriate of the extent of substantive procedures.
e. Auditors must carefully control the risk of assessing risk too high or when performing test of controls.

Easel manufacturing budgeted fixed overhead costs of $ 1.50 per unit at an anticipated production level of 1 comma 350 units. in july easel incurred actual fixed overhead costs of $ 4 comma 700 and actually produced 1 comma 300 units. what is easel's fixed overhead budget variance for july?

The price of trade suppose that portugal and sweden both produce rye and wine. portugal's opportunity cost of producing a bottle of wine is 4 bushels of rye while sweden's opportunity cost of producing a bottle of wine is 10 bushels of rye. by comparing the opportunity cost of producing wine in the two countries, you can tell thatportugal/sweden has a comparative advantage in the production of wine.andportugal/sweden has a comparative advantage in the production of rye. suppose that portugal and sweden consider trading wine and rye with each other. portugal can gain from specialization and trade as long as it receives more rye for each bottle of wine it exports to sweden. similarly, sweden can gain from trade as long as it receives more bottles of wine for each bushel of rye it exports to portugal. based on your answer to the last question, which of the following prices of trade (that is, price of wine in terms of rye) would allow both sweden and portugal to gain from trade? a. 1 bushels of rye per bottle of wineb. 8 bushels of rye per bottle of winec. 9 bushels of rye per bottle of wined. 3 bushels of rye per bottle of wine

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false