The Specific Audit Objective for the Audit of Investments, investment

question 25

Multiple Choice

The specific audit objective for the audit of investments, investment revenues, and realized and unrealized gains and losses, are reported at proper amounts, 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:

Credit Card Numbers

A series of numbers embossed or printed on a credit card that uniquely identifies the card issuer and the cardholder account.

Landfill

A disposal site for waste material by burial and is the oldest form of waste treatment.

Lead and Mercury

Toxic heavy metals that pose health risks when humans are exposed to them in the environment.

Computer Parts

Various physical components that make up a computer system, such as the CPU, RAM, hard drive, and graphic cards.