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:

Point Rating Method

A systematic approach used in performance appraisals where various aspects of a job are rated using a numerical scale to evaluate employees' contributions and effectiveness.

Job Description

A document that outlines the duties, responsibilities, required qualifications, and reporting relationships of a specific job.

Total Points

A method used in job evaluation to quantify the value of a job role based on various criteria, leading to equitable compensation decisions.

Antibody

A specific protein (immunoglobulin) that recognizes and binds to specific antigens; produced by plasma cells.