The Test of Details of Balance Procedure That Requires the Auditor

question 66

Multiple Choice

The test of details of balance procedure that requires the auditor to review contracts with suppliers and customers and inquire of management for the possibility of the inclusion of consigned or other non-owned inventory is an attempt to satisfy the objective of

• A)existence.
• B)completeness.
• C)realizable value.
• D)rights and obligations.

---

Definitions:

Experimental Group

In research, a group of subjects who receive the treatment or variable being tested for its effect.

Control Group

The group in an experiment or study that does not receive the experimental treatment, serving as a baseline for comparison with the experimental group.

Mathematical Summaries

The use of statistics, such as mean, median, mode, and range, to provide a comprehensive overview of numerical data.

Inferential Statistics

A branch of statistics that allows us to make predictions or inferences about a population based on data from a sample.