Knowee
Questions
Features
Study Tools

a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events

Question

A systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events

🧐 Not the exact question you are looking for?Go ask a question

Solution

The statement you provided seems to be a definition rather than a question. It appears to define the process of auditing in the field of accounting. Here's a step-by-step breakdown:

  1. "A systematic process": This refers to a method that is organized and follows a certain order or pattern. In this context, it means a structured method used in the field of accounting.

  2. "Objectively obtaining and evaluating evidence": This means gathering and assessing information in a way that is not influenced by personal feelings or opinions. In auditing, this would involve collecting financial records, transaction histories, etc., and evaluating them based on established standards and not personal bias.

  3. "Assertions about economic actions and events": Assertions in this context refer to claims or declarations made about financial activities within a business. These could include statements about the company's revenue, expenses, assets, liabilities, etc.

  4. So, putting it all together, the statement is describing the process of auditing. Auditing is a systematic process where auditors objectively gather and evaluate evidence to verify the assertions made about a company's financial activities.

This problem has been solved

Similar Questions

Evidence-based reasoning is about making decisions and forming arguments based on:Creative convergenceObjective evidencePersonal opinionUnreliable information

I nterpreting r es ults and using these as ev idence for innovat ive explanations is considered asa. Lawb. Skillc. I nterpretation

Which term describes the study of individual or firm behavior in response to economic events? Microeconomics Macroeconomics Econometrics Managerial economics

To test a causal claim, scientists will often sacrifice – validity in exchange for maximizing – validity.externalstatisticalconstructinternal

Discuss the benefits and shortcomings of two evidence-based process discoveryapproaches. Namely, document analysis and observation.

1/1

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.