An accountant records information. When conducting an audit, the auditor must possess
A) an ability to interpret generally accepted accounting frameworks.
B) an education beyond the bachelor's degree.
C) an ability to classify transactions by type.
D) an ability to organize and summarize economic events.

Question

Quizplus · Accepted Answer

When conducting an audit, the auditor must possess an ability to interpret generally accepted accounting frameworks to ensure that financial statements are presented accurately and fairly.

Answer: B 
 An education beyond a bachelor's degree may be beneficial for an auditor, but it is not a requirement to conduct an audit.

Answer: C 
 An ability to classify transactions by type is a fundamental skill for an accountant, but it may not be as crucial for an auditor who is primarily focused on verifying the accuracy of financial statements.

Answer: D 
 An ability to organize and summarize economic events is important for both accountants and auditors, but it may not be the most critical skill for an auditor during the audit process.

An Accountant Records Information