The Auditor May Spend More Time Testing the Existence Assertion

question 59

Multiple Choice

The auditor may spend more time testing the existence assertion of recorded inventory in all of the following EXCEPT _______.

• A)office supply stores
• B)jewelry stores
• C)the Apple store that sell iPhones and iPads
• D)exclusive sunglass stores (e.g., selling Oakley and Ray Ban sunglasses)

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Definitions:

Mesozoic Jurassic

A geologic period within the Mesozoic Era, known for the dominance of dinosaurs and the presence of significant geological and climatic changes.

Thrust Sheets

Large sections of the Earth's crust that have been moved horizontally over other rocks by tectonic forces.

Ocean Floor

The bottom surface of an ocean basin, consisting of various geological features including trenches, volcanoes, and flat plains.

Cross Section

A diagram or model that shows a vertical slice through structures or materials, revealing internal features.