i. In which of the following circumstances is it least likely that tests of controls will be performed? Multiple Choice The expected deviation rate exceeds the tolerable deviation rate. The planned assessed level of control risk is at a level slightly below the maximum. The risk of assessing control risk too low is less than the expected deviation rate. The tolerable deviation rate exceeds the risk of assessing control risk too low.

Security prices are set by active market participants. which of the following is not a consequnce of this fact? a. the market price will be set by the buyer who can take best advantage of the asset. b. the price is set by the buyer willing to pay the highest price. c. superior information about an asset can increase its value by reducing its risk. d. market participants have a strong incentive to reveal private information about a security.