When Testing for the ________ Assertion, Auditors Gather Evidence to Verify

question 93

Multiple Choice

When testing for the ________ assertion, auditors gather evidence to verify recorded assets are owned by the entity and recorded liabilities represent commitments of the entity.

• A)existence
• B)valuation and accuracy
• C)rights and obligations
• D)occurrence

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Definitions:

DIMM

Dual In-line Memory Module, a series of random-access memory modules that provide a computer's processor with the temporary data storage it needs to operate.

Physical RAM

Refers to the actual hardware memory modules installed in a computer used to temporarily store data for quick access by the processor.

Memory Storage

Devices or media used to store digital data, such as SSDs, HDDs, and memory cards.

Registered Memory

Memory modules that have extra chips (registers) near the bottom of the module that delay all data transfers by one clock tick to ensure accuracy.