The Substantive Test of Vouching plant Asset Disposals to Supporting

question 65

Multiple Choice

The substantive test of vouching plant asset disposals to supporting documentation is categorized under:

• A) initial procedures.
• B) analytical procedures.
• C) tests of details of transactions.
• D) tests of details of balances.
• E) presentation and disclosure.

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Definitions:

Negotiability

This term refers to the characteristic of a financial instrument that enables it to be transferred or assigned from one party to another with ease and legal effect.

I.O.U.

An informal document acknowledging a debt owed.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee’s name written on the document.

Studies In Hysteria

A seminal work by Sigmund Freud and Josef Breuer that laid the groundwork for psychoanalysis by examining hysteria and its treatment through talking therapy.