The Auditor Will Normally Find Evidence Concerning the Proper Authorization

question 24

Multiple Choice

The auditor will normally find evidence concerning the proper authorization of transactions in the financing cycle by:

• A) direct confirmation by the investors.
• B) inquiring of the audit committee.
• C) inquiring of management.
• D) reading the copies of the contracts.
• E) reading the minutes of the board of directors meetings.

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Definitions:

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Population Crash

A sudden decline in the numbers of individuals in a population due to environmental factors, predation, or disease.

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