The process of recording a transaction in the journal is called journalizing

When expressing an unmodified opinion, the auditor who evaluates the audit findings should determine whether

A. The amount of identified misstatement is documented in the management representation letter. B. Uncorrected misstatements are material. C. The amount of identified misstatement is acknowledged and recorded by the client. D. Estimates of total misstatement include the amounts of adjusting entries already recorded by the client.

An insurance company estimates its objective risk for 10,000 exposures to be 10 percent. Assuming the probability of loss remains the same, what would happen to the objective risk if the number of exposures were to increase to 1 million?

A) It would decrease to 1 percent. B) It would decrease to 5 percent. C) It would remain the same. D) It would increase to 20 percent.