The Specific Audit Objective, Year-End Transfers of Cash Between Banks

question 38

Multiple Choice

The specific audit objective, year-end transfers of cash between banks are recorded in the proper period, is derived from 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:

Alternative Hypothesis

A hypothesis that contradicts the null hypothesis, suggesting there is a significant difference or effect.

≠ Sign

Represents inequality, used in mathematics and statistics to denote that two values are not equal.

Mediation

A form of conflict resolution in which an impartial third party facilitates communication and negotiation between disputing parties to help them reach a mutually acceptable agreement.

Neutral Party

An unbiased individual or entity not involved in the interests of any of the disputing parties, often used in negotiations or conflict resolution.