All the goods and services produced in a country in a year plus other sources of income for example foreign exchange earnings, foreign aid, foreign remittance, loans etc are called ?

A. GDP
B. NNp
C. NDP
D. GNP

June 1, 2022

What would most appropriately describe the risk of incorrect rejection in terms ofsubstantive testing?

(A) The auditor concludes balance is materially correct when in actual fact it is not

(B) The auditor concludes that the balance is materially misstated when in actual fact it not

(C) The auditor has rejected an item for sample which was material

(D) None of the above

May 14, 2022

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