{"id":32678,"date":"2024-04-15T09:05:16","date_gmt":"2024-04-15T09:05:16","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=32678"},"modified":"2024-04-15T09:05:16","modified_gmt":"2024-04-15T09:05:16","slug":"which-of-the-following-statements-is-are-true-1-audit-can-be-done-by-any-person-2-auditing-is-guarantee-of-100-correctness-3-errors-can-be-detected-and-prevented-from-auditing-4-auditing-is","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statements-is-are-true-1-audit-can-be-done-by-any-person-2-auditing-is-guarantee-of-100-correctness-3-errors-can-be-detected-and-prevented-from-auditing-4-auditing-is\/","title":{"rendered":"Which of the following statement(s) is\/are true? 1. Audit can be done by any person. 2. Auditing is guarantee of 100% correctness. 3. Errors can be detected and prevented from auditing. 4. Auditing is the examination of books and statements."},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Both 1 and 2&#8243; option2=&#8221;Both 2 and 3&#8243; option3=&#8221;Both 3 and 4&#8243; option4=&#8221;1, 2 and 4&#8243; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>C. Both 3 and 4<\/strong><\/p>\n<ul>\n<li><strong>Auditing is the examination of books and statements.<\/strong> This is a true statement. Auditing is the process of reviewing and verifying financial statements and other records to ensure that they are accurate and complete.<\/li>\n<li><strong>Errors can be detected and prevented from auditing.<\/strong> This is also a true statement. Auditing can help to identify errors and prevent them from occurring in the future.<\/li>\n<\/ul>\n<p>However, the following statements are false:<\/p>\n<ul>\n<li><strong>Audit can be done by any person.<\/strong> Auditing is a complex process that requires specialized knowledge and skills. It is not something that can be done by just anyone.<\/li>\n<li><strong>Auditing is guarantee of 100% correctness.<\/strong> No audit can guarantee 100% correctness. There is always the possibility that errors will be missed. However, auditing can help to identify and correct errors, and to reduce the risk of future errors.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Both 1 and 2&#8243; option2=&#8221;Both 2 and 3&#8243; option3=&#8221;Both 3 and 4&#8243; option4=&#8221;1, 2 and 4&#8243; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[698],"tags":[],"class_list":["post-32678","post","type-post","status-publish","format-standard","hentry","category-auditing","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following statement(s) is\/are true? 1. Audit can be done by any person. 2. Auditing is guarantee of 100% correctness. 3. 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