3. A company's gross profit percentage has fallen from 50% to 30% .Which of the following events could explain this? An overstatement of closing inventory b. An understatement of revenue c. An increase in mark up d. A fall in customer demand a. 4. Evidence can be described as written or oral and internal or external. Which combination of these provides the most reliable evidence? Oral external a. b. Written external C. Written internal d. Oral internal 5. Which of the following is NOT the right of a statutory audit? a. To attend a board meeting b. To have access to all company's accounting books and records c. To receive explanations and information from officers of the company d. To receive notice of and attend general meetings C.