Question
What is the probability that Wye will speak truth for a
particular question asked? There are three people – Axe, Wye and Zed. Probability that Axe speaks the truth is 7/20, probability that Wye speaks the truth is 3/5 and probability that Zed speaks truth is 5/6. For a particular question asked, at most 2 people speak truth. All people answer to a particular question asked.Solution
In any case Wye speaks truth. Now at most 2 people speaks truth for 1 question. So case (1) : Wye and Axe speaks truth Probability = 3/5 × 7/20 × (1-5/6) = 7/200 Case (2) : Wye and Zed speaks truth Probability = 3/5 × 5/6 × (1-7/20) = 13/40 Case (3) : only Wye speaks truth Probability = 3/5 × (1-5/6) × (1-7/20) = 13/200 Add the three cases, we get = 7/200+ 13/40+ 13/200 = 7/40
Which of the following is NOT part of auditor’s understanding of the entity and its environment under SA 315?
Which of the following financial statements can be prepared using a receipt and payment account?
Which of the following is NOT a key element of an independent auditor’s report under SA 700?
During a statutory audit, the auditor discovers a pattern of journal entries posted near year-end reversing shortly after year-end that inflate reported...
Vouching primarily relates to:
Internal auditor is removed and appointed by which among the following?
Which of the following provides the most reliable audit evidence?
Which of the following is NOT a type of audit opinion as per SA 700?
Internal check is a part of the:
Why must auditors obtain an understanding of internal control even if they do not intend to rely on it?