When Testing for the ________ Assertion, Auditors Search for Evidence

question 81

Multiple Choice

When testing for the ________ assertion, auditors search for evidence that assets, liabilities and equity items have been recorded at appropriate amounts and allocated to the correct general ledger accounts.

• A)presentation and disclosure
• B)valuation and allocation
• C)existence
• D)occurrence

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Definitions:

Neuroticism

A personality trait associated with negative emotions such as anxiety, depression, and anger; high levels can indicate vulnerability to stress and emotional instability.

Erikson

Erik Erikson was a developmental psychologist and psychoanalyst known for his theory on the psychological development of human beings, which outlines eight stages from infancy to adulthood, each characterized by a specific psychosocial challenge.

Stagnation

A state of inactivity or lack of growth and development in a physical, economic, or social context.

Middle Adulthood

The stage of life, generally considered to occur from approximately 45 to 65 years of age, marked by increased self-awareness, stability, and concern for the future.