Often,numerous Classes of Transactions Affect the Ending Balance of a Particular

question 58

Essay

Often,numerous classes of transactions affect the ending balance of a particular general ledger account.This is handled during the audit engagement by
A)ensuring that tests are conducted for each class of transactions.
B)obtaining a high level of assurance for at least one of the transaction types.
C)using a combination of assurance for each class of transactions and for the ending balance.
D)testing only the ending balance,as this is the significant amount on the financial statements.

• A)ensuring that tests are conducted for each class of transactions.
• B)obtaining a high level of assurance for at least one of the transaction types.
• C)using a combination of assurance for each class of transactions and for the ending balance.
• D)testing only the ending balance,as this is the significant amount on the financial statements.

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Definitions:

Maxillary

Pertaining to the maxilla, the upper jawbone in vertebrates, which forms part of the structure of the mouth and face.

Paranasal Sinuses

Air-filled spaces within the bones around the nose, which help humidify and filter the air we breathe.

Maxillary

Refers to the upper jawbone in vertebrates, which forms part of the skull.

Nasal Conchae

Curved bony structures within the nasal cavity that help to warm, moisten, and filter the air we breathe.