Substantive Tests Must Be Designed to Tests Specific Audit Objectives

question 46

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.
-Trace shipping documents to sales invoices.

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

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Definitions:

Good Practice

A conventional method or technique that is considered effective and beneficial in a certain context, often based on experience rather than formal rules.

Java Console Application

A Java program that runs in a text-based console environment, typically executing tasks and returning text output.

Displays Result

Refers to the action of showing the output or outcome of a program's execution to the user.

DecimalFormat Class

A class in Java that provides the ability to format decimal numbers into strings with a specific pattern, being part of the java.text package.