Quantified uncertainty is referred to as ________.
A)Audit risk (AudR)
B)estimation
C)probability
D)Accounting risk (AccR)

Question

Quizplus · Accepted Answer

Quantified uncertainty is typically expressed in terms of probability, which represents the degree of belief or confidence about a particular outcome or event. Audit risk and accounting risk refer to specific types of risk in the audit and accounting contexts, while estimation refers to the process of making an educated guess or prediction based on available information. Therefore, option C (probability) is the best choice.

Quantified Uncertainty Is Referred to as ________