Appropriateness Addresses Which Aspect of Audit Procedures

question 13

Multiple Choice

Appropriateness addresses which aspect of audit procedures?

• A)Relevance.
• B)Reasoning.
• C)Reliability.
• D)Both A & C.

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Definitions:

Journal Entries

Records of financial transactions in the accounting system of a business, ensuring all changes in financial position are accurately reflected.

Insurance Policy

An agreement between an insurer and a policyholder that outlines coverage terms, conditions, and the duration the insurance coverage is in effect.

December 31

December 31 refers to the final day of the year in the Gregorian calendar, often associated with closing financial and business accounts for the year.

Credit Balance

A situation where the sum of credits in an account exceeds the sum of debits, often indicating a liability or revenue.