The Auditor Traces Items from the Journals Back to the Source

question 61

Multiple Choice

The auditor traces items from the journals back to the source documents in order to satisfy the:

• A) ownership objective.
• B) existence objective.
• C) completeness objective.
• D) valuation objective.

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Definitions:

Purchasing Manager

An individual responsible for buying goods and services for a company, ensuring the best quality for the lowest price.

HP

Hewlett-Packard, a multinational information technology company known for its wide range of hardware components as well as software and related services.

Buying Center

A group of individuals within an organization who are involved in the process of evaluating and making purchase decisions.

Gatekeepers

Persons or organizations that manage the access to certain assets, typically data or resources.