Q
Which of the following is true about written representations?
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A
A. They are the best source of audit evidence
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B
B. They should be used only when there is a lack of other substantive audit evidence
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C
C. They should be used only when there is other substantive audit evidence to complement it
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D
D. Shareholders receive a copy of all material written representations
Correct Answer:
B. B. They should be used only when there is a lack of other substantive audit evidence
