The Audit Objective Related to Existence Is to Obtain Evidence

question 5

True/False

The audit objective related to existence is to obtain evidence that the asset,liability or equity exists physically or legally.

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Definitions:

Carbon Film

A type of resistor where a film of carbon is deposited on an insulating substrate, used for its predictable resistance properties.

Metal Glaze

A type of thick film resistor material that combines glass and metal particles to create a resistor with a high temperature coefficient and stability.

Ceramic Base

A non-conducting, heat-resistant base used in electronic components and devices, made from ceramic materials.

Thick Film

A technology used in the manufacture of electronic devices and circuits, where materials are deposited in thin layers on a substrate to create components with specific electrical properties.