Substantive Tests Must Be Designed to Tests Specific Audit Objectives

question 62

Multiple Choice

Substantive tests must be designed to tests specific audit objectives.
REQUIRED: For the following specific audit procedures, indicate the assertion that is being tested. Use the following letters, placing your response in the space provideD.
-Select vendor accounts with high activity during the year, and low balance at
year-end for confirmation.

• A)Existence or occurrence
• B)Completeness
• C)Valuation or allocation
• D)Rights and obligations
• E)Presentation and disclosure

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Definitions:

Endorphin

Endorphins are natural chemicals produced in the brain that help to reduce pain and boost happiness.

Anxiety Disorder

A category of mental health disorders characterized by excessive and persistent feelings of anxiety and fear.

Schizophrenic Disorder

A long-term mental health disorder characterized by disruptions in thought processes, perceptions, emotional responsiveness, and social interactions.

Dissociative Disorder

A condition that involves disruptions or breakdowns of memory, awareness, identity, or perception.