The Specific Audit Objective That the Entity Is Liable for the Payables

question 30

Multiple Choice

The specific audit objective that the entity is liable for the payables resulting from the recorded purchase transactions relates to:

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

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Definitions:

Sexual Abuse

Any unwanted sexual activity or behavior that is forced upon a person without their consent.

Whistle-blowing

The act of exposing any kind of information or activity that is deemed illegal, unethical, or not correct within an organization that is either private or public.

White-collar Crime

Non-violent crime committed by individuals, typically during the course of their occupation, for financial gain.

Distributive Justice

The fairness of outcomes that individuals receive in an organization.