Substantive Tests Must Be Designed to Tests Specific Audit Objectives

question 18

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.
-Inquire of accounting and purchasing personnel about unrecorded payables.

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

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Definitions:

Narrative

A spoken or written account of connected events; a story or a representation of a particular situation or process in such a way that it reflects or conveys a particular point or lesson.

Triumph Of The Barberini

A celebrated fresco symbolizing the power and influence of the Barberini family, showcasing the allegorical victory of Divine Providence.

Pietro Da Cartona

A misspelling or incorrect rendering of the artist Pietro da Cortona, a leading Baroque painter and architect of the Italian school, known for his frescoes and church design.

Palazzo Barberini

A 17th-century palace in Rome, Italy, that showcases Baroque architecture. It now houses the Galleria Nazionale d'Arte Antica.