100% examination is likely both in the case of tests of controls and for tests of details.Select one:TrueFalse

The statement "100% examination is likely both in the case of tests of controls and for tests of details" is False.

Explanation:

1. Tests of Controls: These are audit procedures conducted to evaluate the effectiveness of an entity’s internal controls. While some controls may be tested 100%, generally auditors take a sample of transactions to assess how well controls are functioning, due to feasibility and cost-effectiveness.

2. Tests of Details: These involve detailed examination of transactions and balances to determine if they are accurate. Similar to tests of controls, it is impractical to examine 100% of transactions, so auditors typically use sampling methods to gather evidence.

In conclusion, while some aspects may be examined fully, it is not common to conduct a 100% examination in both tests of controls and tests of details.