The Specific Audit Objective for the Audit of Investments, recorded

question 34

Multiple Choice

The specific audit objective for the audit of investments, recorded investment asset and equity balances represent investments that exist at the balance sheet date, relates to the:

• A) existence or occurrence assertion.
• B) completeness assertion.
• C) rights and obligations assertion.
• D) valuation or allocation assertion.
• E) presentation or disclosure assertion.

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Definitions:

Control

In an experiment, a control group or element is used as a benchmark to measure how the other tested elements differ.

Lurking Variables

Variables that are not included as explanatory or response variables in a study but can affect the interpretation of relationships between variables.

Text Messages

Short digital messages sent over a mobile network, typically containing alphanumeric characters and transmitted between mobile devices.

Treatments

Specific interventions or procedures applied to subjects in an experimental study to investigate their effects on outcomes.