Day: August 12, 2025

Accounting Multiple Choice Question – 12 August 2025

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Which ONE of the following is NOT a benefit of an assurance report on financial information?

Select ONE answer:

  1. enhances the credibility of the information being reported on
  2. reduces the risk of management bias in the information being reported on
  3. attests to the correctness of the information being reported on
  4. draws the attention of the user to deficiencies in the information being reported on

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 == >    An assurance report does not ‘attests to the correctness of the information being reported upon’. Even a reasonable assurance engagement (which gives more assurance than a limited assurance engagement) does not provide a guarantee that the information being reported on is correct. Assurance can never be absolute as this statement implies.
  4. Not correct

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