Accounting Multiple Choice Question – 26 July 2025

Which ONE of the following does NOT describe aspects of the expectations gap with respect to the external audit?

Select ONE answer:

1. Users do not understand the meaning of the audit opinion
2. Users are not aware of the limitations of the audit process
3. Users do not appreciate that reasonable assurance is a low level of assurance
4. Users do not understand what the audit process involves

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct == >    Reasonable assurance is a high, but not absolute, level of assurance.
4. Not correct

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